In a press release, the Portuguese club Boavista, owned by Gérard Lopez, announced that it was on the verge of bankruptcy.
Is Gérard Lopez making a new victim? After the bankruptcy of Royal Mouscron (Belgium), the large debts left to Lille and the legal recovery of the Girondins de Bordeaux, since demoted to National 2, the Spanish-Luxembourgish businessman is on the verge of sinking another club: Boavista, currently 14th in the Portuguese championship.
An “indisputable economic deterioration”
This Tuesday, the club announced in a press release that it is on the edge of the precipice. “The Commercial Court of Vila Nova de Gaia has ordered a Special Revitalization Process (PER), which now follows legal procedures and which will be developed over the coming months. The truth is that, without the adoption of rigorous and exceptional, the only alternative will be to file an insolvency request, which would lead to the inevitable liquidation of the club, thus frustrating everyone's legitimate expectations and the recovery of credits by creditors”, confides Boavista.
The Portuguese club is aware that the “economic and financial deterioration” is “indisputable”. It was “aggravated by an almost daily burden of executive procedures and consequent seizures by creditors”. The Boavista board of directors realized that it had no other choice but to present a Special Revitalization Process.
