French club Bordeaux will fold all its operations after failing to recover from its financial turmoil, as per reports.
Reports say that the club informed the French Football Federation that it would renounce its professional status achieved in 1937. The contracts of all the players have been terminated, and the training centre will shut down.
On Tuesday, Bordeaux was administratively relegated to the third tier of French football after Liverpool’s owner, Fenway Sports Group (FSG), withdrew from takeover talks.
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Earlier this month, FSG said it was in talks to buy the six-time French champion, but last week, withdrew “following extensive and constructive discussions with all stakeholders”.
FSG’s decision to withdraw its bid spelt a death knell for the club’s financial and administrative stability.
Bordeaux has been champion of France six times (1949, 1983, 1984, 1986, 1998, 2008).
