John Textor devant the DNCG ©️IMAGO / PanoramiC
More problems for Lyon, this time at the top of the hierarchy
Last December, Olympique Lyonnais experienced a significant change in direction when John Textor and his company, Eagle Football, took control of the club. This takeover, which would have reached 800 million euros, was partially facilitated by Iconic Sports, which injected 75 million euros into the operation. However, recent reports suggest thatIconic Sports now seeks to withdraw, according to The Team.
One of the main factors contributing to Iconic Sports’ desire to leave Lyon is an alleged breach of an agreement between the investment company and Eagle Football. This rupture would have pushed Iconic Sports to request reimbursement of the 75 million euros that it had initially invested in Lyon. The exact nature of the deal remains shrouded in mystery, but it appears to be a point of contention between the parties involved.
the DNCG organizes a meeting with John Textor
While Lyon’s financial affairs take an unexpected turn off the field, their performance on the field leaves something to be desired. Lyon are currently at the bottom of the Ligue 1 table after seven days. This unenviable position, coupled with the constant monitoring of the club’s financial activities by the DNCG (the financial watchdog of French football), paints a difficult picture of Textor’s tenure as owner.
The DNCG’s watchful eye has already led to restrictions on Lyon’s spending during the summer transfer window, with Textor failing to present €60 million in funds generated from the sale of players before the deadline fixed. Although Textor had hoped to be freed from these constraints during the January transfer window, recent developments suggest that Lyon’s financial challenges could persist.
FIFA transfer investigationErnest Nuamah has Lyon is an urgent question. Due to a lack of funds at Lyon, the Ghana international was bought by another Eagle Football club, Molenbeek, for €25 million before being loaned to Lyon. If the DNCG authorized this transfer, FIFA is now responsible for investigating its legitimacy.
Another looming concern is that of the payment conditions of the players sold by Lyon last summer, in particular Bradley Barcola (45 million euros + 5 million euros bonus) and Lukeba Castle (34 million euros, bonus included). It remains to be seen how many of these sums have already been paid to Lyon or will be paid before the stipulated deadline of June 30, 2024.
Textor tries to sell OL Reign
Complicating Lyon’s financial situation, Textor is racing to sell other assets, including OL Reign, the club’s American women’s team, and the LDLC Arena. The pressure is on to find buyers before the end of 2023, with Lyon seeking to offload these assets and extricate itself from the grip of the DNCG.
In a recent press release, Textor was optimistic about Lyon’s future, saying: “In January, we will have no limits in terms of governance, on our ability to strengthen the team. » However, how events unfold on and off the pitch will ultimately determine whether Lyon can successfully navigate these stormy waters.
2023-10-03 11:15:24
#Lyon #investor #withdraw
