Girondins renounce their professional status

Cataclysm in French football. According to 'Sud Ouest', Bordeaux have informed the FFF of their intention to renounce the professional status they acquired in 1937. The French club did not want to wait for the hearing with the Direction Nationale de Contrôle de Gestion (DNCG) on 1st August, which has already been cancelled, to see if it could obtain authorisation to play in Championnat National 1, the third tier, to which it was relegated by the DNCG.
The aforementioned source points out that this administrative relegation to the third tier is a hybrid, as both amateur and professional clubs compete. When a club is relegated, it loses its professional status by default, but can apply for an exemption to retain it for two seasons.
As soon as it becomes official, the players' contracts will be automatically terminated and the club will have to close its training centre. The French newspaper reports that there are around 70 youngsters, almost half of whom are housed in the facilities.
The Girondins is mortally wounded and on Tuesday 30th July will appear before the commercial court to request the opening of a legal collection procedure that will freeze all debts (around 90 million).
The French club's owner, Gerard Lopez, has to guarantee to the court that he has sufficient means for the company to continue its activity, in particular to pay the salaries of the administrative employees.
If the body gives its approval to the recovery, the entity will have to submit a budget to the DNCG for the category in which it competes: Championnat National 1 or Championnat National 2. In case there are no guarantees, the step is to submit a new plan or a liquidation request.
The Girondins may be living its last moments. The team has 17 titles to its name, of which 16 are domestic and 1 international: 6 Ligue 1, 4 French Cups, 3 French Super Cups, 3 League Cups and 1 UEFA Intertoto Cup.