Sparta withdraws, Girondins de Bordeaux on brink of liquidation | OneFootball

Sparta has pulled out after failing to raise €10 million, leaving Girondins de Bordeaux facing exclusion from the national leagues. According to L'Équipe, the DNCG appeal commission should confirm the sanction on Wednesday.

At 10.15am on Wednesday, Bordeaux’s hierarchy will appear alone before the DNCG appeal panel. Franck Tuil, a Sparta co-founder, and his partners had banked on a late American investor, without success. The original ruling was handed down on 30 June.

Only a fresh twist now looks capable of changing course. In practice, only a payment by Gérard Lopez of the required sum would spare the club, and even then at best R1, the sixth tier, next season. The Ligue de Nouvelle-Aquitaine will decide, and the team could be placed even lower.

If the sanction stands, the plan supervisor is expected to petition the commercial court to terminate the plan, citing an irretrievably compromised economic, social and financial situation. The court could then open liquidation proceedings, which might be ordered by the end of the month.

In that scenario, the Girondins association chaired by Jean-Louis Triaud would be left to meet liabilities tied to the affiliation number, including €4.5 million due on foreign transfers and €500,000 in training compensation.

Source: L'Équipe