Bordeaux's relegation to the third tier of French football has been confirmed by the DNCG (National Directorate of Management Control), who have dismissed the club's appeal against their demotion.
Bordeaux – who have won Ligue 1 on six occasions, finished bottom of the top flight last season and were preparing for a first second-tier campaign since the early 1990s, only to be handed a further demotion to the Championnat National last month following a DNCG examination of their finances.
The club, who reportedly have debts close to €40million, immediately announced their intention to appeal, but the French Football Federation (FFF) confirmed their sanctions will stand on Tuesday.
Gerard Lopez, the owner of the 2009 Ligue 1 champions, said the financial implications of a relegation below Ligue 2 would be "catastrophic" last month, adding: "With its structure and costs, this club cannot exist in National 1."
Lopez also warned the club would risk having to file for bankruptcy, which could lead to a further demotion to below France's professional football pyramid, in the event of losing their appeal.
Bordeaux could reportedly still appeal to the French Olympic Committee or look to have the decision suspended, but are nevertheless set to conduct a fire sale of first-team players in the transfer window.