Former French Ligue 1 champions Bordeaux have been relegated a further division down to France's fourth-tier National 2 after going into receivership, the French football federation (FFF) announced Thursday.

The cash-strapped club need to find 40 million euros ($43.6 million) to balance their books and had been in talks with the owners of Liverpool, Fenway Sports Group (FSG), before the American investors pulled out of negotiations in mid-July.

Due to Bordeaux's financial woes, France's National Directorate of Management Control (DNCG) had initially decided to relegate them to the third-tier National 1, a decision which the club eventually accepted after withdrawing their appeal on July 23.

Bordeaux, who last season finished 12th in the second-division Ligue 2, then announced two days later they would become an amateur club for the first time in almost 90 years after filing for bankruptcy.

On Tuesday, Bordeaux went into receivership after a decision taken by the city's local commercial court in order to "allow (them) a season in the amateur National 1".

However, the federal financial watchdog DNCG decided Thursday to relegate the club a further division to the fourth tier as per the French league's (LFP) regulations, which stipulate a club in receivership must be "demoted to the division immediately below the one for which it would have qualified for the following season".

If six-time French champions Bordeaux accept this latest relegation, it will not need to be ratified by the FFF's executive committee, according to the federation.

But they can still appeal to the amateur version of DNCG -- at the risk of facing a heavier sanction -- or bring their case before the French National Olympic and Sports Committee (CNOSF) as a last resort.

The National 2 season gets underway in just over two weeks' time on August 16.

When contacted by AFP, Bordeaux did not immediately respond.