Bordeaux sold for €1 as Sparta Capital completes takeover

Bordeaux has a new owner. Luxembourgish-Spanish businessman Gérard Lopez has handed the club over to British investment fund Sparta Capital for a symbolic sum of €1. The negotiations were difficult, but both sides eventually got the deal done. Sparta Capital has already deposited €10 million into an escrow account. That money is meant to help Bordeaux challenge the decision by France's National Olympic and Sports Committee that excluded the club from every football league in the country. If the appeal is successful, the French Football Federation will be able to restore Bordeaux to the third division. That would allow the club to avoid liquidation and keep operating. If the appeal is rejected, Sparta Capital can pull its investment out, and the threat of liquidation returns for Bordeaux. Bordeaux is one of the most decorated clubs in French football, with six league titles and two Coupe de France wins.