English investment company Park Bench has bought French football club Bordeaux for the symbolic price of 1 euro.
Operative Information Center-OMM reports that, according to a statement published on Bordeaux’s official website, an agreement has been reached between former president Gerard Lopez’s company and Park Bench on the transfer of the club.
Under the agreement, the new owner has assumed responsibility for paying the club’s existing debts.
The club said that, as part of the legal procedure to resume its activities, Bordeaux’s management will be summoned in the coming days to a hearing before the Regional Commission for Oversight of Management of the New Aquitaine Football League. The agreement reached with Bordeaux’s new owner was described as an important stage in securing the club’s future.
Bordeaux was relegated to France’s sixth division in July. The club’s appeals against the decision were rejected. Bordeaux has won the French championship six times, most recently in 2009. The club’s sale follows a period of financial difficulties and administrative proceedings, with the new owner now expected to address its outstanding obligations and support the continuation of its activities.