Gérard Lopez’s hold on Bordeaux ended in the small hours between Tuesday and Wednesday, with the Girondins sold to English investment fund Park Bench for the symbolic sum of one euro.
The move
The Hispano-Luxembourg businessman had attempted to retain a minority position in the club during the final negotiations, but Park Bench rejected every proposal.
Lopez initially sought to keep 15% of Bordeaux’s share capital, protected by an anti-dilution clause. After that request was turned down, he reduced the proposed stake to 10%. The buyer did not alter its position and Lopez secured no continuing shareholding in the agreement ultimately signed.
As part of the deal, Lopez also gave up the money owed to him by the club and waived his return-to-better-fortune clause, which could have allowed a future recovery should Bordeaux’s financial position improve.
The French season around it
Park Bench is expected to benefit from a revised arrangement covering Bordeaux’s debts. The club’s continuation plan is set to run over 12 years rather than the previously planned 10.
- VAT liabilities of a little more than €5 million are set to be reduced by 50%.
- Social-security debts owed to Urssaf, amounting to €4.2 million, are also set for a 50% reduction.
The ownership change brings a clean break at Bordeaux: Lopez leaves without a stake in the club he has now handed over, while Park Bench takes charge with a longer timetable to manage the Girondins’ debt burden.
