Football: King Street announces that he no longer wishes to “finance” the Girondins de Bordeaux

It is a hard blow for the Girondin club. The American investment fund King Street, owner of Bordeaux (L1), announced, Thursday April 22, that it “Wishes more to support the club and finance current and future needs” des Girondins, placed under the protection of the Bordeaux commercial court. “An ad hoc representative has been appointed [qui] will be responsible for assisting FC Girondins de Bordeaux in their search for a lasting solution ”, explained the club in a press release, referring to “The economic context linked to the Covid-19 pandemic and [le] withdrawal of Mediapro [ayant] caused an unprecedented drop in revenues for French football clubs ”.

This announcement comes in the context of an acute sports crisis – Bordeaux is 16e of L1 and fight for its maintenance – and very strong tensions between President Frédéric Longuépée and the Ultramarines, exacerbated since the end of 2019 and a ticketing affair. In a tweet, the main group of supporters wished the “Immediate and immediate departure” by Frédéric Longuépée and King Street “Working in the coming hours for a healthy and sustainable club sale”.

No surprise for the mayor of Bordeaux

The crisis worsened in the spring of 2020 with the broadcast of the “Girondins leaks”, a series of audio recordings, resulting from private meetings held between December 2019 and March 2020 between Bordeaux leaders and club subscribers, and broadcast by the Ultramarines on social networks.

King Street was the sole master on board in Bordeaux since he bought his shares in the American fund GACP (General American Capital Partners) from Joe DaGrosa, with whom he had taken over the club in 2018, until then owned by the M6 ​​channel.

This advert “Unfortunately not a big surprise for me”, reacted quickly the mayor EELV of Bordeaux Pierre Hurmic. “The club’s takeover plan, against which I voted in 2018 (as an opposition municipal councilor, editor’s note), did not seem, from the start, in a position to ensure its sustainability. This seems to be confirmed today. “ “A page will have to be turned”, he added. “Everything will have to be done to put in place a solution ensuring the sustainability of this club. All its supporters, partners and supporters will have to show solidarity and vigilance so that the great sporting adventure of the Girondins de Bordeaux, which began 140 years ago, continues. “


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