Former Champions League club managed by ex-Premier League star ‘abandons pro status’ after relegation to third tier

BORDEAUX have got rid of their professional status after being relegated to the third tier.

The French club are now set for court where they could be wound up.

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Bordeaux have been plagued by financial issues and took the decision to drop down to the third tier to try and ease their woes.

They were in takeover talks with Liverpool owners Fenway Sports Group but they have since withdrawn their interest after extensive discussions with the club's stakeholders.

It leaves Bordeaux on the brink of liquidation, with a date set at the Commerical Court in France.

Ahead of that trial the club has decided to end their professional status, report L'Equipe.

They have also cancelled the contracts of all of their players, who have been released.

And the former Champions League side have closed their training ground.

Bordeaux have been a professional club since 1937 and have won Ligue 1 on six occasions.

They made a net loss of around £34million last season and had a wage bill of £21m.

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At court next week Bordeaux are reportedly set to request the opening of a judicial recovery procedure that will freeze all their debts - approximately £76m.

Former Liverpool star Albert Riera has remained as manager with the new season set to commence on August 17.