Girondins de Bordeaux have agreed to a symbolic 1 euro ($1.13) sale to investment group Park Bench as the six-time French champions fight to avoid liquidation and rebuild after a dramatic financial collapse.

Bordeaux announced Wednesday that an agreement had been signed between current owner Gerard Lopez's company and Park Bench, with the deal including the assumption of the club's debts. The transaction still requires final legal and regulatory approval.

The 1 euro price does not mean Bordeaux's financial obligations are worth 1 euro.

Reuters reported that Park Bench will assume debts of close to 18 million euros, while a broader restructuring is expected to reduce claims covered by the club's continuation plan from about 26 million euros to roughly 13 million euros.

The repayment period will be extended to 12 years.

Lopez will also abandon his outstanding claims against Bordeaux and a clause that could have allowed him to benefit financially from a future improvement in the club's fortunes.

Park Bench, owned by American Evan Sofer and Britons James Bord and Jeremy Green, have interests in football clubs including Scottish side Dunfermline Athletic and Spanish club Cordoba.

From French champions to the 6th tier

Bordeaux's current situation is a remarkable fall for one of France's most successful clubs.

The Girondins have won six French championships, with their most recent title coming in 2009 under Laurent Blanc. They have also won four Coupe de France trophies and three Coupe de la Ligue titles.

Their European history is equally notable. Bordeaux reached the UEFA Cup final in 1996 with Zinedine Zidane, Christophe Dugarry and Bixente Lizarazu in their squad.

In the 2009-10 Champions League, Bordeaux topped a group containing Bayern Munich and Juventus after winning five of their six matches. They reached the quarterfinals before losing to Lyon.

The financial crisis that followed has been severe.

Bordeaux were relegated from Ligue 1 on sporting grounds in 2022 after finishing last. Financial problems then triggered further administrative difficulties, eventually costing the club its professional status in 2024.

In June 2026, the DNCG, French football's financial watchdog, excluded Bordeaux from national competitions after the club failed to provide the required financial guarantees. An appeal was rejected in July, leaving Bordeaux facing a move to Régional 1, the sixth tier of French football.

A fight for survival

The Park Bench agreement could prevent the club from entering liquidation, but the takeover is not yet complete.

The prospective owners must still pass the remaining regulatory procedures, while the Bordeaux Commercial Court must approve the revised continuation plan.

The club is hoping to begin its Regional 1 campaign in October after its start to the season was delayed.