The moment of truth is approaching for the Girondins de Bordeaux, who are the subject of a takeover offer from Gérard Lopez. Negotiations are ongoing. If they are unsuccessful, legal redress could be triggered with uncertain sporting consequences.
After the limit set Monday evening, no buyer has officially been selected for the acquisition of the Girondins de Bordeaux, placed in April under the protection of the commercial court. But Gérard Lopez’s latest offer, this Monday, resulted in an “agreement in principle” for the takeover of the club with King Street, owner of the Girondins, and the creditor Fortress.
The two parties are leaving each other a few days to negotiate and come to an agreement, according to L’Équipe. The former president of Lille is supported by lending funds, one of which has not yet provided the necessary guarantees to carry out the operation. Discussions are underway to obtain more details, with many issues to be taken into account such as the rental of the stadium for example.
If the two parties agree and the deal is validated by the National Management Control Department (DNCG), Gérard Lopez should be president of the Girondins de Bordeaux. The club would then be saved.
The specter of receivership
In any case, time is running out: if the sale does not go through, Frédéric Longuépée, president of the club and corporate officer, will then have to declare the suspension of payment to the commercial court. This would trigger a reorganization process, a process that is supposed to last at least three weeks.
The club would not automatically be relegated. Fortress would then have to give up the debt owed to it (around 38 million euros) and a buyer would have to be found very quickly. If there is one, the DNCG, after evaluation, would then have the last word on the sporting future of the Girondins and could still demote the club.
The worst-case scenario would be a too late judicial reorganization of the Girondins. If the minimum three-week period is extended after the resumption of the 2021-2022 sports season, i.e. July 24 (for Ligue 2), Bordeaux will lose its professional status. And will have to start again from the amateur divisions.