OFFICIAL - Bordeaux, financier Gerard Lopez is the new owner

22.06.2021 21:00 of F.N. TransferMarketWeb   See readings
OFFICIAL - Bordeaux, financier Gerard Lopez is the new owner

According to a new report by prominent financial news outlet Bloomberg, Bordeaux seem set to be rescued by financier Gerard Lopez.

The French club had been in a dire financial situation, and went into administration regime back in April, when current owners King Street Capital Management and Fortress Investment Group refused to inject fresh capital into the club, which needed at least $100M, according to sources close to the matter.

King Street seem to be now working with Gerard Lopez to sell the club to the former Lille owner. Lopez, who has been investing in sports for years, just left Lille in financial trouble when he sold the club to Elliott Management, the same fund who owns Italian giants A.C. Milan. Bordeaux were probably hit hardest by the pandemic, as empty stadiums and the lack of TV rights revenue due to Mediapro only paying one installment on their original deal with the French Federation left les girondins holding on for dear life. 

UPDATE: The sale is now official, as announced on the club's official Twitter account: