The candidates for the resumption of the Girondins de Bordeaux have until Monday evening to submit a takeover offer likely to seduce King Street and Fortress. This agreement is capital for the future of the Girondins, because without this deal, the file will be directly transmitted to the Commercial Court and the club will be placed in suspension of payment.
For the Girondins de Bordeaux, it is perhaps the most important day of the season. Until Monday evening, the two candidates for the club’s takeover – namely the duo Lopez / Rigo and Didier Quillot – can make an offer to the owner King Street and the club’s main creditor, Fortress. If no agreement is reached, the president of the Girondins and corporate officer, Frédéric Longuépée, will declare the club insolvent to the Commercial Court. Directly after this declaration, a collective safeguard procedure will be opened.
This procedure would take the form of a receivership and it is the Commercial Court which would study the files to choose the buyer of the Girondins de Bordeaux. Defined criteria would be scrutinized, such as the solvency of candidates and their project. Another novelty, all those interested in taking over the club could position themselves, without limitation to the two candidates present in this home stretch. During the procedure, the club’s debts would be frozen and the Girondins would preserve – for the moment – their professional status. If a buyer was chosen, he would recover all of the club’s assets with a number of employees that he should specify in his file presented to the Court.
The DNCG will have the last word
This is information that did not make noise last November but which could play a decisive role in the future of the Girondins de Bordeaux. Article 234 of the general regulations of the FFF has been modified for the 2020-2021 season: “Any club which would be the subject of a safeguard or receivership procedure opened before the resumption of the 2021-2022 championships will not be automatically demoted to the lower division if he benefits from a safeguard plan, a reorganization plan or a disposal plan approved by the competent court before this same deadline. in no way in question the competence of the DNCG in matters of financial control of the clubs and in no way prejudges the decisions which it is likely to take. “
This modification made shortly before the sinking of Mediapro allows us to be more conciliatory with the Ligue 1 and Ligue 2 clubs in a difficult situation. Even if in this case, it is the National Direction of Control and Management (DNCG) which will have the last word and which will decide on the sporting future of the Girondins de Bordeaux. As announced by our colleagues from South West, July 24 is the latest date to have a recovery validated by the DNCG via a receivership. Otherwise the sporting demotion would become inevitable, and could go up to the amateur level. Clearly, if this procedure is open, Bordeaux will have to finalize the entire process before the resumption of the Ligue 2 championship.
Two other possible scenarios
In addition to this option of receivership, two other scenarios exist. The first: an agreement is reached tonight with the idea of a closing before the beginning of July. It is certainly the best solution for the Bordeaux entity.
Another possibility: a candidate for the takeover is not yet ready to take over the club today but finds an agreement with the current owners for a takeover within two weeks. This second solution is very complex because if the future buyer is not suitable within a fortnight, then the club will no longer have time to go through the stage of receivership before the start of the new Ligue 1 season.