France's sixth-most successful club Bordeaux have accepted their relegation to the third division of the French football pyramid amid their ongoing financial struggles.

The club had hoped to avoid relegation by agreeing a takeover deal with Liverpool owners Fenway Sports Group (FSG), but announced that the Americans had pulled out of the agreement, leaving them with little choice but to accept their fate.

A club statement on Tuesday morning read: 'While discussions had resumed in recent days, FSG representatives indicated yesterday Monday July 22 to FC Girondins de Bordeaux and its shareholder their desire not to follow through despite the assurances provided by various stakeholders. 

'Therefore, in the absence of new elements, FC Girondins de Bordeaux withdrew the appeal lodged against the decision of the DNCG dated July 9, 2024. As a result, FC Girondins de Bordeaux accepts the sanction of administrative demotion within the National 1 Championship for the 2024/2025 season and will be summoned again to present its budget to the DNCG. 

'The period which is opening should allow FC Girondins de Bordeaux to come back stronger and at the highest level. The Club and its shareholder assure the supporters, and all stakeholders, of their desire to protect the interests of the Club.'

Bordeaux have accepted their relegation to the third division of French football

Bordeaux have won Ligue 1 on six occasions, with their latest triumph coming in the 2008-09 season.

They went on to make the quarter-finals of the Champions League the following season, before losing to fellow French outfit Lyon.

But Bordeaux have suffered a dramatic fall from grace in recent years.

They were placed into administration in 2021 when American owners King Street announced they would no longer be supporting the club financially as they cited a decrease in revenue following the Covid-19 pandemic and TV rights holder, Mediapro, going bankrupt as the reasons behind their decision.

Businessman Gerard Lopez bought the club in June 2021, but they suffered their first relegation in over 30 years in his first season at the helm.

In the summer of 2022, Bordeaux were hit with a further relegation to France's Championnat National - a semi-professional league - due to their financial problems.

However, they won their appeal and were reinstated into Ligue 2.

But after two seasons in France's second tier, Bordeaux will now be dropping down to the third division, and will not appeal the verdict on this occasion.