Local French officials removed the last obstacle Friday to the
sale of Ligue 1 club Bordeaux to an American investment fund in a
deal worth 75 million euros ($86.6 million).
The city's municipal council voted overwhelmingly to approve the
American takeover which is expected to be concluded by the end of
The deal comes two years after Ligue 1 rivals Marseille were
bought by US real estate magnate Frank McCourt, the former Los
Angeles Dodgers owner, for 45 million euros.
The council vote officially authorised the transfer of rental
obligations for the club's Matmut Atlantique ground, owned by the
city, from media group M6, Bordeaux's owners for 19 years, to the
US fund, General American Capital Partners (GACP).
Approval was widely expected after the fund's chief Joseph
DaGrosa reassured council members about the fund's commitment to
the deal behind closed doors Thursday.
Bordeaux mayor Alain Juppe said that the council had received
clarifications about the transfer of rental obligations to GACP.
"We received the same level of guarantees (from GACP) as we had
in the past," he said.
The deal will be concluded when accounts are settled at the end
of the month, said Nicolas de Tavernost, M6 president, adding the
media group were leaving the Ligue 1 club on a sound financial
New York-born investor DaGrosa, who co-founded GACP in 2016, has
no background in football but said he would treat Bordeaux like a
He said he had a shortlist of three names for club president, who
would be French and would be appointed within days.
Bordeaux are among the most successful French clubs, winning the
Ligue 1 title six times. Currently they stand seventh in the