A few months ago now, and via the Bordeaux Commercial Court, we learned that the Girondins' debt was around 118 million euros, even if other sources suggested €108 million. While the FCGB has been authorized until January 2025 to continue its activity, a very important phase is starting: the renegotiation of the debt.
Where are we?
In detail, this debt (based on €108 million) breaks down as follows:
- 3 million euros for suppliers
- 4 million euros for tax and social debts
- 10 million euros for guaranteed salary insurance (social plan)
- 10 million euros (Fortress and La Dynamie)
- 38 million euros concerning Gérard Lopez's shareholder loan
- 20 million euros for stadium rent
- 8 million euros for transfer amounts owed to other clubs
- 15 million euros for industrial tribunal procedures (Vladimir Petkovic)
In fact, this debt has already fallen. First of all, Gérard
Lopez confirmed to Sud Ouest that it is giving up on the €38M as part of a return to better fortunes.
“When will I be able to get my 40 million euros back? In L1 perhaps, and even then… No investor would agree to join us with this condition. I've already abandoned them. This is to be able to negotiate more intelligently. On the way from N2 to L2, I don’t see how I can get anything back.”
And then, there was this good news a few days ago, since the industrial tribunal rejected the request of the former Bordeaux coach, Vladimir Petkovic. Or 15 million euros which were part of this debt. Or a total of 53 million euroswhich has already reduced the debt to 65 million euros. A big step forward.
Certain debts will necessarily remain
As a reminder, if there is a waiver for certain debts, this will not be the case for some. Thus, the large-scale social plan, as well as the AGS (Wage Guarantee Insurance) will have to be paid (10 million euros), as will the 4 million euros regarding tax and social debts. . Or 14 million “non-negotiable” euros.
Adjustment variables
This leaves, compared to the summary at the top of the article, the 3 million euros for the suppliers, the 10 million euros for Fortress and La Dynamie, the 20 million euros for the stadium rents, and finally the 8 million euros for transfer amounts owed to other clubs. It is on this part that the Girondins could be out of debt and thus have a chance to continue to… “live”.
The next deadlines
According to Sud Ouest, for these renegotiations, which began at the beginning of December, the objective will then be to submit the recovery plan to the Commercial Court by the April 15 deadline. There will then be “an incompressible procedural deadline of 45 days which will lead to possible approval at the end of May or the beginning of June”.
Remember that the remaining debts could possibly be spread over 10 years. This will be part of the recovery plan mentioned above.
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