Bordeaux have filed for bankruptcy following the collapse of takeover talks with Fenway Sports Group, who own Liverpool. They will abandon their professional status held since 1937.
It's a difficult decision that anticipates an inevitable consequence of the restructuring process underway, the club said in a statement.
Bordeaux have won the French title six times, most recently in 2009, boasting players like Zidane and featuring current stars Tchouameni and Kounde.
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