Gerard Lopez announced on Tuesday that the Girondins’ creditors, Fortress and King Street, have agreed to cancel 75% of the club’s debt
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The beginning of a thinning for the Girondins, one week before their appearance before the French Olympic Committee (CNOSF) ? “We are reducing the debt at club level by 40 million (euros). We have reached an agreement with the lenders”, said club president Gerard Lopez on RMC on Tuesday July 12, confirming comments made to AFP on Monday by one of his relatives who indicated that new agreements had been reached with King Street and Fortress.
This restructuring, which reduces the club’s debt from 53 to 13.5 million euros, responds to a point raised by the authorities to justify the administrative demotion of the club to the third division. A decision that the club disputes.
Sportingly relegated to Ligue 2 at the end of last season, Bordeaux was demoted to National on June 14 by the DNCG, the French football management controller, after examining the club’s finances.
The Girondins have an appointment on July 19 before the French National Olympic and Sports Committee for a conciliation hearing. If the advisory opinion of the CNOSF is favorable, the decision to maintain Bordeaux in L2 will then have to be approved the next day (July 20) by the executive committee of the French Federation (FFF).