First there was a reminder of the situation: the club must find 40 million euros for…
First there was a reminder of the situation: the club must find 40 million euros between now and the appeal, at the beginning of July, to plug the hole from last season. It seems utopian to believe that only player sales in the next two or three weeks will be enough.
Gérard López’s plan consists, therefore, of injecting ten million (his relatives assure that this Tuesday evidence of this reunion was provided), sell for just over twenty million and get a gesture from the Fortress and King Street investment funds, to which the club owes 52 million euros. Thomas Jacquemier confirmed what everyone suspected: without an agreement with its creditors, or a miracle buyer, FCGB will not survive at a professional level.
an impossible recovery
Following the acquisition last summer, the Bordeaux treasury is calibrated to last the previous season, that is, until the end of June. As it is, the club will not be able to face the charges (salaries, fees, suppliers, etc.) that will be generated in July. Gérard Lopez has neither the means nor the desire to ensure the lifestyle of the Girondins alone. US funds do not intend to do so either, and that is not his role.
Gérard Lopez’s holding company, Jogo Bonito, has already agreed recover half of the debt to improve the club’s debt ratio. This is not enough for the DNCG. He has not yet transmitted the exact reasons for his decision, but the representatives of the Girondins held an informal exchange with its president, Jean-Marc Mickeler, on Tuesday. If no additional commonalities with Fortress and King Street are found, downgrade to National 1 will be approved.
All receipts (TV rights, sponsorship, player sales, etc.) will collapse and the cessation of payments, and therefore bankruptcy, will be inevitable. Bordeaux will fall back to its reserve level, in National 3, because the legal time will make it almost impossible to present a recovery solution before the start of the National championship (August 12).
The liquidation of this part of the regional heritage would have dramatic consequences: dismissal of all employees (approximately 260 in total, administrative and athletes combined), extinction of the economic (subcontracting, etc.) and social activity generated by the club, departure from Matmut Atlantique that would find itself without a tenant. Jogo Bonito has guaranteed the rental of the stadium (4.9 million euros per year) but she could really take ?
As for Fortress and King Street, they would write off their €52m (but they have no doubt already provisioned for their losses) and damage their reputation with their investors. Gérard Lopez hopes to convince them to give up their share of the profits from the sales of Aurélien Tchouaméni (approximately €8.5 million) and Jules Koundé. Even to provide a letter of intent in which they firmly committed to cover a possible lack of income from transfers. Long is the way.