Bordeaux Football Club Files for Bankruptcy

French football club Bordeaux has filed for bankruptcy following the collapse of takeover negotiations with Fenway Sports Group, owners of Liverpool FC. This decision comes after the club was relegated from Ligue 2 to the third tier, National 1, due to financial concerns, marking the end of its professional status held since 1937. Bordeaux's financial struggles have led to the termination of player contracts and the closure of its training academy, although youth teams will continue to be promoted. The club, which has won six Ligue 1 titles and reached the Champions League quarter-finals in 2010, expressed that this restructuring process anticipates necessary changes for future stability. The situation reflects a troubling trend in French football amid their upcoming Olympic preparations, as Bordeaux aims to rebuild from this setback. Bordeaux's history includes notable players like Zinedine Zidane and Jules Kounde, emphasizing the club's legacy in French football.