Bordeaux relegated to third tier amid takeover talks

Cash-strapped Bordeaux, who are in talks with Liverpool owners Fenway Sports Group, were provisionally relegated to the third division on Tuesday because of lack of financial guarantees, the French football league (LFP) announced.

"This decision was expected, there is no surprise," a source close to the club said after a meeting with French football's financial watchdog, the DNCG.

Club owner Gerard Lopez did not attend the meeting but representatives of US group Fenway, owners of the Boston Red Sox baseball team and Premier League football club Liverpool, were present and have appealed the decision.

"Legally, we could not obtain a second stay of proceedings so the DNCG was obliged to pronounce relegation as a precautionary measure", in the absence of the necessary funds in the club's account to finance next season, the source added.

A first DNCG hearing on June 27 had granted "a stay of proceedings" amid discussions with Fenway who are looking to invest €100 million over six years in the western French club.

Bordeaux have appealed and have two weeks to finalise the sale of the club.

They need to show between €30 and €40 million in their accounts to play in Ligue 2 for a third consecutive season.

The six-time French champions last won Ligue 1 in 2009.