The 120-year-old Boavista club may cease to exist // Photo: boavistafc.pt
Boavista’s bankruptcy proceedings are being overseen by the administrator, who has made a formal request to the court to close the club. This decision was the result of the conclusion of a commission of creditors, which include Finanças (Portugal’s tax office) and the engineering company Somague. According to Bola, the court will decide the fate of the club in the near future.
Earlier, because of the accumulated debts on Boavista imposed six transfer bans, four of which are indefinite. The club was also denied a licensing procedure to participate in national level tournaments, after which it was entered in regional competitions. In October, the club was forced to withdraw from the regional league (fourth division) after a series of technical defeats caused by non-attendance.
In July, the club’s offices in Porto were searched as part of a criminal case of economic crimes in which former Boavista owner Gerard Lopes is one of the defendants. A number of entities and individuals have been charged with money laundering, aggravated tax evasion and fraudulent organization of bankruptcy.
Gerard Lopez, a businessman of Luxembourg-Spanish descent, previously owned soccer clubs Bordeaux (France), Royal Excel Mouscron (Belgium) and the Lotus team in Formula 1, which were soon declared bankrupt. He was also president of French club Lille from 2017-2020, but left the position amid reports of accumulated debt of more than €225 million and the loss of control of major shareholder hedge fund Elliott Management.
“Boavista” was considered the second most important club in Porto, where the club of the same name is based – one of the most decorated in the country, a two-time Champions League winner and 30-time national champion.
Founded in 1903, Boavista is one of the oldest clubs in Portugal. In 2001 it won the national championship for the only time in its history, won the National Cup five times and the Super Cup three times. At the end of the 2007-08 season was excluded from the Liga Primera Liga after it was proved that the club had bribed referees in the 2003-04 season. “Chessmen” is one of the most common nicknames among fans of the club, which had a large chess club in its structure.
