The economic crisis caused by the coronavirus has left its first victims in French football. In a statement issued a few minutes ago, the Girondins de Bordeaux has announced the departure of its owners, King Street, to leave the management of the club in the hands of the Commercial Court.
The decision, made by the president Fréderic Longuépée, is a consequence of the withdrawal of King Street as the majority shareholder. The American investment fund, which landed in the management of Bordeaux in 2018, had had financial problems in its management and had left the historic Frenchman on the brink of ruin.
“An ad hoc representative has been appointed who will be in charge of helping Girondins Bordeaux in its search for a lasting solution. These events are added to the economic consequences that have hit the clubs hard last season due to the cessation of Ligue 1 and the consequent loss of income, “said the statement issued by Girondins de Bordeaux a few minutes ago.
The situation for the South of France team this season is being dramatic, as the withdrawal from King Street is joined by a rather complicated sporting situation. This exit may force you to start in amateur categories. Girondins de Bordeaux are currently five points from relegation and has only added two victories in the last 11 games.