OFFICIALLY. The six-time French champion has given up his professional status

French club Bordeaux has relinquished its professional status, which it had held since 1937, according to an official statement from the club.

Contracts with all players will be terminated, granting them free agent status. The club’s training center will be closed.

Bordeaux's debts amount to €40 million, and negotiations with potential investors have failed.

Previously, due to debts, Bordeaux was relegated from Ligue 2 to National 1 – the third tier of French football.

Bordeaux, a six-time champion of France, is one of the most popular clubs in the country. The last time Bordeaux won Ligue 1 was in 2009.

Last season, Bordeaux finished in 13th place in Ligue 2.