Gérard Lopez sells Bordeaux to Park Bench for one euro after attempts to retain stake rejected | OneFootball

Gérard Lopez has sold the Girondins de Bordeaux to English investment fund Park Bench after his late push to keep a stake was rejected.

The agreement was signed overnight from Tuesday to Wednesday. According to L'Équipe, Lopez sought to remain involved until the end of talks, but Park Bench did not give ground.

He initially asked to retain 15% of the capital with an anti-dilution clause. After that was refused, he cut the request to 10%, yet the fund accepted none of his terms and he secured nothing in the signed deal.

Lopez therefore completed the sale for one euro, waiving his receivables and a return-to-better-fortune clause.

The buyer should also benefit from a restructuring of the club’s debts, including a continuation plan over 12 years rather than 10.

State claims should be reduced by 50%, covering VAT on a little over five million euros and the same percentage for Urssaf on 4.2 million euros.

Source: L'Équipe

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