The Tribunal de Commerce approved the deal before the club met with the CNSOF. This is the last governing body that can overturn a decision of the DNCG, French football financial watchdog. Girondins was relegated to the French 3rd Division because of its financial difficulties.
Jogo Bonito Group (a holding company) agreed to a EUR10m capital increase. In the event that the EUR14 million amount was not possible to be realized in capital gains from the sale of players, the group agreed to guarantee the EUR14 million. King Street and Fortress agreed to reduce the club’s debt by 75% of the EUR53 million they owe.
AJ Associes was the advisor on this deal, which included founding partner Franck Michel as well as Maxime Lebreton, newly appointed partner.