Bordeaux nears sale to investment fund Park Bench
Parties have informed the commercial court that an agreement has been reached for the sale of Girondins de Bordeaux, helping the club avoid liquidation.
Girondins de Bordeaux is on the verge of a change in ownership. Reports indicate that the English investment fund Park Bench is nearing the acquisition of the club from current owner Gérard Lopez. Representatives for both parties confirmed to the Bordeaux commercial court on Wednesday that an agreement for the sale has been reached.
The deal is a vital step for the six-time French champions, who were excluded from national championships in early September. This sale is expected to prevent liquidation and allow the club to begin its competitive season at the regional level.
The transaction involves a significant restructuring of debts. Gérard Lopez is expected to transfer his shares for a symbolic one euro, waiving his claims on the club. The proposed plan includes extending the debt repayment schedule to twelve years instead of ten, and reducing the total debt burden from 26 million euros to approximately 13 million.
Furthermore, an agreement has been reached regarding severance payments for former coach Vladimir Petkovic and his assistant Antonio Manicone. The settlement reduces the payout to 1.9 million euros for Petkovic and 250,000 euros for his assistant, down from significantly higher initial claims. Despite these developments, the club still needs to negotiate stadium lease terms with local authorities and secure final regulatory approval to participate in the regional league.