The French Connection
By now you’ve probably heard the news that FSG confirmed they are in talks to buy FC Girondins de Bordeaux. But there is a good chance it was the first you’ve heard of the French club. Accordingly, I’ve put together this primer to introduce you to our potential new football cousins in the South of France.
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Named for the Girondins administrative department in which Bordeaux is located, Girondins de Bordeaux is a club with a lot of history. In their 104-year existence, they’ve been Champions of France six times. They also won the French second division once. That’s the seventh most French top-flight wins all-time. Their most recent French title came in 2008-2009 under Laurent Blanc. They’ve won the Coupe de France four times, the now-defunct Coupe de la Ligue three times, the French Super Cup three times, and the old UEFA Intertoto Cup in 1995.
Pipeline To The French National Team AND Liverpool
Bordeaux has also featured many stars of French football and the French national team over the years. This includes Zinedine Zidane, Christophe Dugarry, and Jean Tigana. It has an excellent academy that continues to produce French internationals, including 24-year-old Aurélien Tchouaméni (who plays for Real Madrid).
Liverpool may well have the advantage when pursuing future academy products if FSG owns both clubs. France more broadly is a significant talent hotbed that FSG will receive more access to. With English clubs unable to sign players under 18 due to Brexit, Bordeaux is a potential home for players they aim to bring to Liverpool someday.
Could Be A White Knight
Despite this history, the club has fallen on hard times mostly due to financial issues. A bottom-of-the-table finish in 2021-2022 saw them relegated in the current owner’s first season. They then immediately faced further relegation to the semi-professional third division due to ongoing financial woes but had that relegation overturned on appeal. They are again appealing administrative relegation to the third division as they cannot provide proof of funds for their 2024-2025 payroll.
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Many of us would not want to inherit financial problems of that magnitude. However, Bordeaux’s history, academy, and strong fanbase that consistently bought 20,000 tickets per match in the second division make it the sort of distressed asset that men like John W. Henry covet.
The debts they would have to assume are only €40 million (FSG paid 20 times that to buy the Pittsburgh
Penguins). The Athletic believes that FSG could buy the team’s stadium, built in 2015, from the local council for €50 million. FSG could convert this troubled club into a debt-free, asset-laden operation with relative ease.
Much remains to be seen as talks are ongoing. But I’m up for an adventure through the world
of French football.
