PARIS. Oct 9: The French football league said on Friday it would do all it could to save Euronean cham-

pions Olympique Marseille, who are teetering on the brink of a financial disaster, reports AFP.

Marseille have suffered a series of body blows in recent months and the speculation is rife that Bernard Tapie's club could be heading for receivership due to huge debts.

League president Noel Ie Graet told AFP: "Our concern is to save Oly ipique Marseille. The league will do all It can to stop It from going into receivership and relegation into the Second Division."

Asked about Marseille's money problems, he said, " I don't have any slid figures at the moment. But “ well have a report on it within two weeks.

Then we'll summon Marseille s officials to discuss the matter and to respond to the worries which we also share. '

" It's worrying because we know perfectly well that OM. which has a budget of 250 million francs, which Is no small amount. Is having difficulties.

Just how serious these difficulties are needs to be analysed in detail and not on the basis of rumours.

“ If the deficit is less than 60 million as Bernard Tapie has said, then I'd say ' Bravo, champagne, if it's 250 million, that 's enormous.

' Now I'm not saying that Is the figure, but there are major difficulties there which everybody is aware of.

" If the situation Is really catastrophic, and Tapie along with the local authorities and businesses do not face up to their responsibilities, there will have to be the standard receivership and relegation to the Second Division."

Relegation is the French punishment for all clubs whose finances dive deeply Into the red. as was the case three season ago of Bordeaux— now top of the First Division.

Marseille have been rocked by bribery allegations about a league match last season against Valenciennes, and been banned from defending their European Champions Cup as result.

That tournament alone was

the central plank of Marseille's finances. But Tapie sidf- since been kicked out of the Intercontinental Cup and European Super Cup ties, is participation in the French Cup has been put on hold, and some sponsors have also been giving Marseille a wide berth.

Sources there say that the annual report on Marseille's finances yet to be made public, reveal debts totalling more than 400 million francs ( 70 million dollars) as of June 30.

Set against the deficit is the. market value of the play-ers.estlmated at before the crisis between 200 million to 250 million francs, plus gate receipts and sponsorship — a shortfall put at 150 million to 200 million francs.

Tapie himself predicted net losses on Friday as "100 million to 120 million francs by the end of June. 1994."

However, the league, is look Ing forward to getting its own report, commissioned with an independent firm of auditors, which will take the dost of the club's recent transfers and turmoil into account.