Bordeaux (AFP)
The American investment fund King Street, majority shareholder of the Girondins de Bordeaux (86.4%), has signed an agreement to acquire the remaining shares belonging to GACP, the Bordeaux club announced on Monday.
By this agreement, King Street "buys all the shares of General American Capital Partners (GACP), minority shareholder because of fundamental differences within the governance of FC Girondins de Bordeaux," said the club in a press release.
GACP, an entity created by the American businessman Joe DaGrosa and supported by his Portuguese sports adviser Hugo Varela, behind the acquisition of the Girondins in November 2018, specifies "that he has concluded the agreement with King Street in the interest of the Club and that it wishes every success to FC Girondins de Bordeaux in its future competitions ".
"This agreement will allow FC Girondins de Bordeaux to guarantee stability and continue its ambitious path," added GACP.
In its press release, King Street wanted to "reassure all of the Club's stakeholders, its collaborators, sports teams, supporters and institutions on its long-term commitment within the club and thanks GACP for its contribution to the project during this first year. "
The American fund also reiterated its support for sports director Eduardo Macia, who came to GACP, stressing that he "leads the implementation of the sports strategy", as well as coach Paulo Sousa and his staff, sub-contract until 2022.
He finally reaffirmed "his support and his total confidence in Frédéric Longuépée, who will henceforth occupy the function of President and CEO", while he has been the target for several months of the Ultramarines, the main Bordeaux supporter club which demands his resignation.
© 2019 AFP