Bordeaux sold for €1 to Park Bench after drop to sixth tier

The French football club Girondins de Bordeaux announced the transfer of its ownership to the American investment fund "Park Bench" in a deal valued at just one euro. This transaction is described as a new lifeline for the historic French institution, which has faced severe financial and sporting challenges in recent years.

End of López era

Under the terms of the agreement, current owner Gérard López departs Bordeaux after a five-year tenure marked by instability. During his time at the helm, the club plummeted from the ranks of elite European football to the sixth division, representing one of the most dramatic declines in the history of French soccer. The 2008-2009 league champions have seen their status erode significantly under this leadership.

In an official statement, the club confirmed that the sale was concluded "for a symbolic one euro with the buyer assuming the debts." The administration characterized the move as a "significant step towards rebuilding the future of Bordeaux," signaling a fresh start for the organization amidst ongoing restructuring efforts.

Debt assumption details

French media outlets reported that the Park Bench fund will take on liabilities approaching 18 million euros as part of the acquisition. The investment vehicle operates in sectors including data analysis, software development, and general investment activities. The fund is owned by American Evan Soufer and British national James Board, who will now steer the club’s recovery strategy.

The announcement follows a period of intense financial crisis for the club. Bordeaux underwent judicial receivership twice since 2021 before spending the last two seasons in the fourth division. This descent followed a series of sanctions and administrative relegations that stripped the team of its professional status.

Regulatory hurdles remain

This year, the club’s troubles intensified further when the French regulatory body for professional clubs demoted it to the sixth division, bringing the team to one of the lowest points in its entire history. Despite the signed agreement, the sale process still requires approval from local regulatory authorities.

Additionally, the club must secure approval for its budget for the 2026-2027 season to participate in sixth-tier competitions. A critical final step involves obtaining consent from the commercial court in Bordeaux. This judicial endorsement is essential to prevent the club from entering liquidation proceedings, ensuring its survival as a competitive entity within the lower divisions.