4 months ago
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Photo by THIBAUD MORITZ/AFP via Getty Images
Fenway Sports Group have pulled out of a deal to purchase a controlling share in crisis-hit French Ligue 2 side FC Bordeaux.
Last week, reports emerged that Liverpool owners Fenway Sports Group were seeking to purchase a controlling share of crisis-hit FC Bordeaux. The historic French side are set to be relegated to the third tier due to financial mismanagement, offering an opportunity for FSG to snap up a financially distressed asset.
However, following negotiations it appears that deal will not go ahead. Today, Bordeaux released a statement outlining that FSG have decided to pull out of their purchase attempt—and more than that, they make it sound as though any potential future investment in a French club by FSG would be highly unlikely.
“FC Girondins de Bordeaux and its shareholder have been informed by Fenway Sports Group of its desire not to pursue discussions initiated in recent weeks with a view to purchasing the club,” read a statement released today by Bordeaux, whose demotion to the third tier now seems a foregone conclusion.
“This decision is explained in particular by the significant cost of the stadium in the years to come, but also by the general economic context of French football. FC Bordeaux and Gérard Lopez thank Fenway Sports Group for the interest shown in the club as well as its teams for traveling to meet its stakeholders.”
Reports in recent weeks that FSG were working to purchase a controlling stake in FC Bordeaux caught many observers by surprise given most of the speculation surrounding Liverpool’s owners moving into multi-club ownership in Europe had focused on rumoured interest in buying a Portuguese club.
