Ex-Champions League membership goes bust and kicked out of stadium as enormous £150m debt unpaid

Despite reaching a court agreement with creditors, the club’s owner Gerard Lopez, who destroyed iconic French club Girondins de Bordeaux, completely disregarded the conditions set by the creditors.

Former Portuguese champions Boavista have been forced to close down and will be kicked out of their historic stadium after failing to clear staggering debts of over £150 million. The closure brings a tragic end to the century-old club, which famously won the Primeira Liga in the 2000/01 season and previously competed in the UEFA Champions League.

Insolvency administrator Maria Clarisse Barros confirmed the immediate shutdown of all club activities this week after Boavista failed to deposit the necessary funds to cover ongoing expenses for June. Despite reaching a court agreement with creditors late last year to continue operations, the club’s owner Gerard Lopez . . . who also owns and destroyed iconic French club Girondins de Bordeaux, completely disregarded the conditions set by the creditors.

“As the conditions set by the creditors’ assembly for the continued operation of the insolvent entity are being completely disregarded, on July 15, at 3.30pm, the insolvency administrator will carry out the resolution, proceeding with the closure of the insolvent’s establishment and shutting down all activities conducted by Boavista at Estádio do Bessa and adjacent facilities, including all sports disciplines,” announced Barros.

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“So far, no deposit has been made into the insolvency account, by any party, of the donation (with a releasing effect) that would allow the club’s structure to cover its current expenses for June, as well as the estimated deficit for that month’s sports disciplines.”

Barros mandated that the keys to the Estádio do Bessa – which had previously played host to football icons such as Jose Boswingwa, Raul Meireles and Premier League legend Jimmy Floyd Hasselbaink – cleared of all people and belongings, must be handed over by 31 July, adding: “All that remains is to thank all the directors, assistants, and coaches for their tremendous, almost limitless dedication, and for the excellent athletes they have developed, who have greatly enhanced the already prestigious name of Boavista.

“Finally, and as it could not be otherwise, a big round of applause for the athletes who have honoured this century-old institution around the world.”

Boavista’s liquidation was initially approved in September 2025 as monthly debts continued to pile up and the establishment’s deficit became unmanageable. Due to the severe financial crisis and multiple FIFA transfer bans, the club was administratively relegated to the lowest tiers of the Porto Football Association and failed to play a single match in the 2025/26 season.

The court recently rejected the board’s appeal against the sale of the club’s real estate assets, leading to the stadium and adjacent sports complex being auctioned off to the highest bidders.

The football world has been left mourning the demise of one of Portugal’s most iconic teams. Highlighting the despair surrounding the situation, football commentator Kevin Fernandes captured the mood on social media, writing: “A dark day for Portuguese football as Boavista officially closes its doors. Over £150m in debt and locked out of the Bessa. A historic club destroyed by gross mismanagement”