Bordeaux, Angers spared relegation by French authorities
Bordeaux (AFP) –
Bordeaux and Angers will both play in Ligue 1 next season after their appeals against relegation imposed by France's financial watchdog DNCG were successful, the clubs announced separately on Monday.
Bordeaux were spared after the presentation of a recovery plan put together by businessman Gerard Lopez, who is set to take over the club.
"The club is saved!" said Lopez after hearing of the DNCG's decision.
"It's a great day for Bordeaux and we will now get down to putting in place the sporting and economic project validated this evening."
Bordeaux, who have won six league titles and are one of the biggest clubs in the country, saw former owners American financial group King Street appoint an administrator in April saying they wanted out after investing 46 million euros (55 million dollars) since buying the outfit in 2018 for 100 million euros.
Last week, Bordeaux city officials approved rental guarantees for the cash-strapped club's city-owned Matmut Atlantique stadium from Lopez.
Angers are likewise in financial dire straits with the French top flight labouring under the cumulative effects of the pandemic and also the recent collapse of a broadcasting deal.
However, their provisional relegation to Ligue 2 for financial irregularities was also overturned on Monday, the club announced on Twitter.
© 2021 AFP