The French Professional Football League (LFP) decided this Friday to relegate Girondins de Bordeaux to second provisionally as a result of the withdrawal of its main shareholder, a decision that the club will appeal.
The body adopted this measure after Bordeaux was called before the Federal Commission for Club Control (DNCG), in which his financial situation and his provisional budget were addressed first and then his future project with the Spanish businessman Gerard López.
The club recognized that this meeting highlighted the impossibility of having their needs covered after the owner, the US fund King Street, withdrew its support last April after having entered its capital in 2018.
The team said in a statement that the meeting also served to present the new financial project, following the agreement in principle signed between the companies Jogo Bonito (of Gerard López), Fortress and King Street.
Girondins stressed that they plan to appeal the LFP's decision so that the landing of the Spanish businessman (former owner of Lille) can be taken into account with a new DNCG hearing scheduled for July 12.
Before that date, the sale commitment should be signed with a financial arrangement that, according to what has been leaked to the press, includes the contribution by López's structure of 7.5 million euros of equity and a loan of 20 millions.
The club trusted that the project presented to the DNCG would allow them to cancel their relegation and stay in first place. EFE