Liverpool FC news: Club releases shock update in FSG’s multi-club project bid

Girondins de Bordeaux have released a shock update on plans for FSG to buy the club. Talks were in full flow last week.

Girondins de Bordeaux have announced that FSG will not purchase the club despite talks progressing far last week. The French club made those talks public as it appeared the American investment group were on the verge of completing a takeover.

But things have collapsed. Bordeuax claim the collapse has come about because of fees over the stadium and the uncertain finances in French football.

TV deals - or lack thereof - risk the futures of several Ligue 1 and Ligue 2 clubs. Bordeaux aren’t even one of those - their own disastrous finances saw them relegated to the third tier for next season.

Here’s what Bordeaux had to say in a statement:

"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 Gérard Lopez thank Fenway Sports Group for the interest shown in the club as well as its teams for traveling to meet its stakeholders."

FSG must look elsewhere in multi-club project

It’s no secret that FSG hope to add another club to their books. They’ve restructured the football side of their company in order to make it happen, with former Liverpool sporting directors Michael Edwards and Julian Ward both taking up roles.

But it’s a complicated business to get involved in. Bordeaux are certainly a sleeping giant in French football but getting them back on their feet is an incredibly difficult task if French football as a whole is struggling.

FSG will look elsewhere, then, and hope to find a ‘Bordeaux’ in another country before moving forward with their project.