Bordeaux sold to U.S. hedge fund General American Capital Partners
Editor's note: A previous version of this story erroneously called General American Capital Partners a "Los Angeles-based hedge fund"
Bordeaux have been sold by media company M6 Metropole Television to Miami-based private Equity firm General American Capital Partners (GACP), the French firm said on Tuesday.
"M6 Group has today finalised the sale of the Football Club Girondins de Bordeaux to the U.S. investment fund General American Capital Partners (GACP) for €100 million," M6 said in a statement announcing their results for the first nine months of 2018.
M6 bought the French club in 1999 and hoped to bring back the glory days of the 1980s when Bordeaux won three league titles and two French Cups with Alain Giresse, Jean Tigana and Marius Tresor.
Under M6, however, they won one league title, in 2009, and one French cup, in 2013.
"A page turns for M6, a new one opens for the FCGB," M6 president Nicolas de Tavernost said on Twitter.
"I wish great success to the new management team and thank all the Girondins for these 19 years. I will remain a fervent supporter of [Bordeaux]."