On 24/6, the French football financial watchdog (DNCG) relegated Lyon to Ligue 2. The decision stemmed from 634 million USD in debt and a soaring wage bill, coupled with dwindling cash flow. However, on 9/7, following Lyon's appeal, the DNCG reversed its initial ruling. To secure their return, the seventh-place Ligue 1 finishers must raise 117 million USD in cash and a similar amount over the next two years.
"Lyon welcomes today's DNCG decision to keep the club in Ligue 1," a statement read. "We thank the appeals committee for acknowledging the ambition and commitment to sound financial management demonstrated by the new leadership."
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Lyon (in white) lost to Man Utd 6-7 on aggregate in the 2024-2025 Europa League quarterfinals. Photo: Reuters |
Lyon (in white) lost to Man Utd 6-7 on aggregate in the 2024-2025 Europa League quarterfinals. Photo: Reuters
Following the initial relegation decision in late June, John Textor, who controls Lyon through Eagle Football Group, stepped down as club president. He was replaced by Michele Kang, another Eagle Football Group shareholder.
Lyon has been actively raising funds to ensure its Ligue 1 status. The club generated 64 million USD from selling four players, including Rayan Cherki to Man City. High earners like Alexandre Lacazette and Nicolas Tagliafico were released, and loanee Thiago Almada returned to Botafogo, reducing the wage bill.
Through Eagle Football Group, Textor also owns 43% of Crystal Palace. This could jeopardize either Lyon's or Crystal Palace's participation in next season's Europa League. UEFA regulations stipulate that if one owner holds at least 30% of two clubs, they cannot compete in the same competition. Both Lyon and Crystal Palace qualified for the Europa League through their respective sixth-place Ligue 1 and FA Cup finishes.
According to AP, Textor has agreed to sell his Crystal Palace stake to businessman Woody Johnson. However, the deal is yet to be confirmed. UEFA awaits the final outcome before making a decision.
Thanh Quy (according to AP, ESPN)
