Heading for big financial losses and facing the prospect of relegation to the second division, Bordeaux is in survival mode.
With its six French leagues titles, four French Cups, three League Cups and a glorious history on the European stage, the southwestern club is one of the most decorated in the country.
But in recent years, Bordeaux has found itself in the spotlight for the wrong reasons.
In the wake of consecutive mediocre seasons, Bordeaux was on the verge of bankruptcy last year after the club’s American-based owner, investment firm King Street, withdrew its financial support.
King Street took over the club in December 2019 and invested 46 million euros ($53 million) without any significant result.
With two games left last season, Bordeaux was just two points above the relegation zone but ultimately managed to stay among the elite. The team, however, was provisionally relegated until the league’s financial watchdog approved the takeover project by businessman Gerard Lopez.
“It’s a rescue mission,” Lopez told Le Monde newspaper upon his arrival. “There are red lights flashing everywhere. There is an enormous wage bill, very little income, and huge losses. We will need three to six months to stabilize the situation.”
Saying that nothing has been stabilized in Bordeaux is an understatement.
Despite bringing in left backs Gideon Mensah and Ricardo Mangas plus Paris Saint-Germain defender Timothée Pembélé, Bordeaux’s backline has been catastrophic. Bordeaux’s 58 goals conceded in 23 games is the highest tally at this stage of a season since 1976.
Symbolically, Bordeaux lost for the first time in 44 years at its home ground against bitter rival Marseille this season. And to add to the supporters’ anger and pain, the club was handed its heaviest Ligue 1 loss since 1986 in a 6-0 thrashing by Rennes.
Combined with a 5-0 loss at Reims last weekend, the humiliation led to the sacking of coach Vladimir Petkovic, only seven months after he joined in the summer. Petkovic was previously in charge of Switzerland and led the national team to the Euro 2020 quarterfinals after eliminating France on penalties.
Petkovic, who had 18 months left to go on his contract, was dismissed with the club second to last in the standings ahead of Sunday’s trip to Lens. With only four wins so far, Bordeaux lags 36 points behind leader PSG, which hosts Rennes on Friday.
According to L’Equipe newspaper, former Reims coach David Guion — renowned for his ability to build solid defensive squads — will replace Petkovic.
Last month, Bordeaux also dropped several players including former Arsenal and France defender Laurent Koscielny in a bid to save money on salaries, with the club reportedly on track to make a 64 million euros loss by the end of the season.
Bordeaux is not the only past glory club to struggle.
Saint-Etienne, the most decorated French side with 10 league titles, has endured similar misfortunes and stands at the bottom of the standings.
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