French club Bordeaux have filed for bankruptcy following the collapse of takeover talks with Fenway Sports Group, who own Liverpool.

Bordeaux withdrew their appeal against being relegated from Ligue 2 to the third tier National 1 by French football’s financial watchdog, the DNCG, following the end of talks with FSG.

They have now filed for bankruptcy and will abandon their professional status, which they have held since 1937.

“It’s a difficult decision that anticipates an inevitable consequence of the restructuring process underway,” the club said in a statement.

Bordeaux have won the French title six times, most recently in 2009, and the likes of former France internationals Zinedine Zidane and Bixente Lizarazu, as well as current Les Bleus players Aurelien Tchouameni and Jules Kounde, have had stints at the club.