The withdrawal of the American shareholder King Street puts the Girondins de Bordeaux in a complicated situation.
King Street, the American owner of the Girondins de Bordeaux, announced on Thursday April 22 that he “no longer wanted to support the club and finance its current and future needs”. Placed under the protection of the Bordeaux Commercial Court, the club is left in an uncertain situation five days before the end of the championship. The six-time champion of France may face four scenarios in the coming weeks.
Due to the current situation, the French Football Federation (FFF) decided last December that for this season, a club benefiting from “a safeguard plan, a recovery plan or a disposal plan approved by the competent court“before the resumption of the 2021-2022 championships “will not automatically be demoted to the lower division”. The most dramatic situation for the Marines and Whites would therefore be that King Street goes bankrupt.
If the club files for bankruptcy before the end of the season, this would not be without consequences for the other teams in the championship. In this case, it would be necessary to recalculate the classification of Ligue 1 without Bordeaux: the club would be demoted to Ligue 2 and all the points obtained against the Girondins would be canceled. A club that has already played and won both matches against Bordeaux would thus be cut by six points (this would be the case in particular for Lille and Monaco).
If the current procedure with the Commercial Court leads to a bankruptcy filing, the Girondin club would be administratively demoted to Ligue 2 at the end of the season. Bordeaux has already experienced an administrative demotion in the second division. It was at the end of the 1990-1991 season due to a deficit of 45 million euros marking the end of the Claude Bez era.
In the event that the club would file for bankruptcy but an investor would buy the club by paying off all its debts, the Girondins would not be relegated but would be penalized by fifteen points in the standings. Currently 16th in the championship with only eight points ahead of the 19th, Nantes, and eighteen on the Dijon red lantern, the Bordelais could be part of the relegation if they were sanctioned.
The best scenario that is for the Bordelais would be to find a buyer in the coming days so that the club resumes its activity normally. The mayor of Bordeaux, Pierre Hurmic, who reacted to leaving King Street, claimed that the city, “stakeholder in the choice of the future buyer of the Girondins de Bordeaux”, was already in contact with two candidates.