FSG and Bordeaux statements in full as talks to purchase club confirmed

Fenway Sports Group have confirmed they are in talks to purchase French club Bordeaux, whose demotion to the third tier has forced progress over a sale.

It emerged on Tuesday that FSG were in the process of negotiations over purchasing a majority stake in Bordeaux, who are facing major ramifications over financial issues.

Due to long-standing debt, Bordeaux have been provisionally demoted from Ligue 2 to the third tier of French football, the Championnat National.

That decision was taken by the Direction Nationale du Controle de Gestion (DNCG) – described by outlet France Bleu as the “financial policeman of French football” – during a hearing last month.

But the proposed sale to FSG, who are seeking their first purchase in a venture towards a multi-club project with Liverpool at its forefront, would avoid those sanctions ahead of 2024/25.

LIVERPOOL, ENGLAND - Saturday, May 18, 2024: Liverpool's owner John W. Henry (R) and wife Linda Pizzuti during the FA Premier League match between Liverpool FC and Wolverhampton Wanderers FC at Anfield. (Photo by David Rawcliffe/Propaganda)

A statement from Bordeaux on Tuesday confirmed talks were underway after a presentation to the DNCG that morning.

Their statement reads:

“FC Girondins de Bordeaux continues its discussions with Fenway Sports Group in view of the DNCG appeal commission.

“During the hearing on June 27, the DNCG had pronounced a stay of proceedings for FC Girondins de Bordeaux in order to provide all the necessary guarantees for financing the 2024-2025 season.

“For the moment, the progress of the case has led the DNCG to pronounce the relegation of the club to the Championnat National.

“The club is appealing the decision and now has time to finalise one of the options that will secure funding for next season.

“In this regard, the project to sell a majority stake in the capital to Fenway Sports Group was presented this morning to the DNCG in the presence of its representatives and we are working hand in hand with them as part of the continuation of negotiations and due diligence.”

FSG also issued a statement, as reported by The Athletic, confirming:

“Fenway Sports Group has expressed interest in the potential acquisition of French football club Girondins de Bordeaux and is in the early stages of dialogue and engagement.”

MANCHESTER, ENGLAND - Sunday, March 17, 2024: Liverpool's (L-R) chief executive officer of football for Fenway Sports Group Michael Edwards, club secretary Danny Stanway , Ian Rush, non-executive director Kenny Dalglish during the FA Cup Quarter-Final match between Manchester United FC and Liverpool FC at Old Trafford. (Photo by David Rawcliffe/Propaganda)

Though a deal – which is expected to amount to £67.6 million – is yet to be agreed, progress will be required within the next fortnight, which suggests that FSG are serious about their interest.

If they are successful in their takeover, management of the multi-club model will be led by FSG’s CEO of football Michael Edwards, technical director Julian Ward and director of football development Pedro Marques.

Speaking upon his return to the fold in March, Edwards said: “One of the biggest factors in my decision [to join FSG] is the commitment to acquire and oversee an additional club, growing this area of their organisation.

“I believe that to remain competitive, investment and expansion of the current football portfolio is necessary.”