US investor buys Girondins Bordeaux for €1

What happened

Six-time French football champions Girondins Bordeaux, demoted to the men's sixth division after massive financial problems, are being sold to US sports investor group Park Bench for a symbolic €1. The investment fund will take over the club's debts from owner Gerard Lopez once league officials rubber-stamp the deal, the club said in a statement on Wednesday.

Summary assembled by rule from the sources below

Sources