And it goes on and on… A new club owned by Gérard Lopez is on the verge of liquidation. After the bankruptcy of Royal Mouscron (Belgian D1), the significant debts left to Lille and the legal recovery of the Girondins de Bordeaux, demoted during the off-season to National 2, the Spanish-Luxembourgish businessman is, in fact, on on the verge of sinking another European club.
This Tuesday, the FC Boavista club, 14th in the Portuguese D1 and majority owned by Lopez, announced in a press release that it was on the edge of the precipice. “The Commercial Court of Vila Nova de Gaia has ordered a Special Revitalization Process (PER), which now follows legal procedures and which will be developed over the coming months. The truth is that, without the adoption of rigorous and exceptional measures, the only alternative will be to file an insolvency request, which would lead to the inevitable liquidation of the club, thus frustrating everyone’s legitimate expectations and the recovery of credits. by the creditors,” wrote the Lisbon club in a press release which, through this final step, will be able to negotiate its debts with its creditors. This slight breath of fresh air should not, however, reverse a dramatic trend.
It is a trauma for FC Boavista who reached the semi-finals of the UEFA Cup in 2003 after eliminating PSG that season in the round of 16. “The economic and financial deterioration is indisputable. It was aggravated by an almost daily burden of executive procedures and consequent seizures on the part of creditors,” the press release added. The club’s board of directors therefore realized that it had no other choice but to present a Special Revitalization Process.
