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Liverpool owners Fenway Sports Group won't buy Bordeaux, the former French league powerhouse said Tuesday.

Bordeaux, a six-time winner of the French title with their most recent coming in 2009, are currently appealing against a decision to relegate the club to the third tier and are looking to secure guarantees of financing for next season.

"FC Girondins de Bordeaux and its shareholder have been informed by Fenway Sports Group of its decision not to pursue the discussions begun in recent weeks with a view to buying the club," Bordeaux said in a statement. "The reasons for this decision include the high cost of the stadium over the next few years and the general economic climate in French football."

The French league was on the verge of a major crisis just days ago before it agreed on a last-minute deal for the domestic broadcast rights for the upcoming season. According to L'Equipe newspaper, the league on Sunday approved "exclusive negotiations" with DAZN and beIN Sports for a combined €500 million ($545m) for the next five seasons. It has yet to announce details of the deal.

Bordeaux said they will keep looking for alternate solutions to finalise "a financing plan for the 2024-2025 season with a view to the appeal hearing."

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