Bastia have hit out at reports in France that the sale of Ryad Boudebouz will not be enough to preserve their Ligue 1 status.
The National Directorate of Management Control (DNCG) ruled on Tuesday that the Corsican club would be denied a place in the top division due to a €1.3million hole in their budget.
An appeal was launched by the islanders, who claim that the anticipated sale of Boudebouz to Montpellier will resolve the issue.
Club owner Pierre-Marie Geronimi has insisted Bastia will be playing in Ligue 1 next season, despite reports indicating that they have debts of up to €10m.
But Bastia have responded to that speculation, saying that the publication of the apparent debts “do not take into the account the sporting reality” of the club.
Describing the rumours as “fanciful”, the statement said Bastia were still awaiting the results of their appeal and “would provide any document that could, if necessary, be requested”.