Liverpool owners Fenway Sports Group (FSG) have officially withdrawn from discussions to acquire struggling French club Bordeaux. This decision comes after careful consideration of various factors, including future stadium maintenance costs and the overall financial uncertainty surrounding French football.
Reasons for Withdrawal
Bordeaux released a statement explaining that FSG cited the significant future maintenance costs of the stadium as a primary reason for their withdrawal. Additionally, the general economic context of French football played a role in their decision.
“FC Girondins de Bordeaux and its shareholder have been informed by Fenway Sports Group of its intention not to pursue the discussions initiated in recent weeks with a view to buying the club,” the statement read. “This decision is explained in particular by the significant cost of the stadium in the years to come, but also by the general economic context of French football.”
Background of the Deal
FSG had confirmed last week that they were in the “early stages of dialogue and engagement” over a potential deal for the six-time French champions. Bordeaux, however, has been facing significant financial challenges. The club was provisionally relegated to the third-tier National 1 by French football’s financial watchdog, the DNCG, after failing to provide financial guarantees for the 2024-25 season. Bordeaux is currently appealing this decision and was granted an initial stay of proceedings by the DNCG on June 27.
FSG’s Statement
FSG expressed disappointment at not finding a viable outcome but wished Bordeaux and its supporters well for the future. An FSG statement read: “Although we are disappointed not to have found a viable outcome, we wish the club and its supporters well for the future.”
Future Plans
When FSG appointed Michael Edwards as the company’s chief executive of football earlier this year, part of his role included helping to identify and manage a second club. The search for such an opportunity continues despite the setback with Bordeaux.
The withdrawal of Fenway Sports Group from talks to purchase Bordeaux highlights the significant financial challenges facing the French club. Despite the initial interest and discussions, FSG decided that the future costs and economic instability made the deal untenable. Bordeaux must now focus on resolving their financial issues and stabilizing their future as they appeal against their relegation to the third tier.