Former Liverpool Sporting Director, Michael Edwards did not return to Liverpool, but was appointed CEO of the football division at owner company Fenway Sports Group (FSG).
He was responsible for building a multi-club ownership structure around Liverpool and was entrusted with the development of the football division in the company.
FSG has been on the lookout for a club to follow Liverpool and was recently reported to be in talks with FC Girondins Bordeaux. Negotiations were underway between the parties to acquire the French club, which was looking to improve its financial position from long-term debt.
However, the negotiations did not come to a successful conclusion and FSG issued an official statement saying that it had taken the decision to abandon the Bordeaux takeover.
While thanking those who had agreed to talks, it also stated that it was looking forward to a bright future for Bordeaux.
“Following extensive and constructive discussions with all stakeholders, Fenway Sports Group has made the decision not to pursue the acquisition of FC Girondins de Bordeaux.”
“We would like to express our gratitude to the chairman and members of the DNCG for giving us the opportunity to meet with them, and thank all of our interlocutors, within FC Girondins de Bordeaux and beyond, for their collaboration over the past weeks as we sought a solution.
“Despite our disappointment at not being able to find a viable outcome, we wish the club and its supporters the best possible future.”
This decision has caused FSG to turn its attention to other clubs. No potential takeover candidates have been reported at the moment, but there must be an under-the-radar investigation of possible clubs.
Meanwhile, FC Girondins Bordeaux, which was not taken over by the investment company, has also posted a formal statement on social media.
The background to this decision seems to include the high stadium costs to be incurred in the future and the economic situation in French football.
Club Press Release
FC Girondins de Bordeaux and its shareholder have been informed by Fenway Sports Group of its decision not to pursue the discussions begun in recent weeks with a view to buying the club. The reasons for this decision include the high cost of the stadium over the next few years and the general economic climate in French football.
FC Girondins de Bordeaux and Gérard Lopez would like to thank Fenway Sports Group for its interest in the club and its teams for travelling to meet its stakeholders.
The Club and its shareholder are now putting all their energy into finalising a financing plan for the 2024/2025 season with a view to the appeal hearing.
Communiqué du Club 🔵⚪️
— FC Girondins de Bordeaux (@girondins) July 16, 2024
Le FC Girondins de Bordeaux et son actionnaire ont été informés par Fenway Sports Group de sa volonté de ne pas donner suite aux discussions entamées ces dernières semaines en vue du rachat du club. Cette décision s’explique notamment par le coût… pic.twitter.com/GH1sS0RpJ7