Deal announced on Wednesday in Bordeaux
Representatives from both sides turned up together at the Bordeaux commercial court on Wednesday. The message was clear: an agreement has been reached over the club’s sale. According to Sud-Ouest, British investment fund Park Bench is on the verge of buying Bordeaux from Gerard Lopez.
The liquidation threat hanging over the six-time French champions since their removal from the national leagues at the start of September is fading fast. On paper, that should allow the club to get its season in Regional 1 under way.
Try it for $0.99.
Debt cut, plan stretched over 12 years
The deal would come with a major restructuring. The recovery plan would be extended from 10 to 12 years, while the debt pile would drop from 26 million to about 13 million euros, again according to Sud-Ouest. Lopez would hand over his shares for a symbolic euro, give up his claims and waive any sell-on clause. The state and the AGS would also be involved in rescheduling or cutting their claims.
A separate agreement covers Vladimir Petkovic and his assistant Antonio Manicone, both sacked in February 2022. The Bosnian-Swiss coach was seeking 15.1 million euros on appeal and had a strong chance of getting it. That figure would fall to 1.9 million for him and 250,000 euros for his assistant. The debt owed to Fortress, the lending fund behind the 2018 takeover, would also be reduced from 2.5 million to 1.6 million.
Two issues still unresolved
Not everything is done and dusted. The annual rent for Stade Atlantique, set at 500,000 euros, still has to be negotiated with the Bordeaux metropolitan authority. And all the paperwork must still be signed off by the commercial court, then by the regional oversight commission for Ligue de Nouvelle-Aquitaine clubs, the only body that can confirm Bordeaux’s place in Group B of Regional 1.
Discover the rest of the Football news on our website and app mathodds!
in your pocket.
Real-time notifications & alerts
Leave a Reply