FSG full statement as Liverpool owners pull the plug on deal for two chief reasons
FSG have made a decision not to buy Bordeaux
Fenway Sports Group (FSG) have pulled the plug on a purchase of Bordeaux.
Liverpool’s owners were looking to buy the French side, who have been demoted to the third tier because of financial issues because of debt problems. The Boston-based group are aiming to expand their footballing portfolio after bringing back ex-Reds sporting director Michael Edwards to become FSG’s CEO of football.
However, after meeting Bordeaux officials, FSG have released a statement to confirm discussions have now ended.
It said: “Following extensive and constructive discussions with all stakeholders, Fenway Sports Group has made the decision not to pursue the acquisition of FC Girondins de Bordeaux.
“We would like to express our gratitude to the chairman and members of the DNCG for giving us the opportunity to meet with them, and thank all of our interlocutors, within FC Girondins de Bordeaux and beyond, for their collaboration over the past weeks as we sought a solution.
“Despite our disappointment at not being able to find a viable outcome, we wish the club and its supporters the best possible future.”
A Bordeaux statement revealed that the cost of stadium repairs and economics of French football meant was why talks broke down. It said: “FC Girondins de Bordeaux and its shareholder have been informed by Fenway Sports Group of its desire not to pursue discussions initiated in recent weeks with a view to purchasing the club.
“This decision is explained in particular by the significant cost of the stadium in the years to come, but also by the general economic context of French football. FC Girondins de Bordeaux and Gerard Lopez thank Fenway Sports Group for the interest shown in the club as well as its teams for travelling to meet its stakeholders.
“The club and its shareholder are now putting all their energy into finalising a financing plan for the 2024/2025 season with a view to the appeal hearing.”