After having postponed it several times, Eagle Football Group has finally published its accounts in a press release which is not very reassuring regarding the financial situation of John Textor's group.
Since the takeover of Olympique Lyonnais by John Textor, the financial situation of the Rhone club has often been a subject of concern for supporters. Anxiety is present at every transfer window and last summer, big doubts arose, particularly when the president of FC Metz publicly revealed the late payments for the transfer of Georges Mikautadze. Some suppliers have also complained in this regard, revelations which are not very reassuring, just like the publication of the accounts by Eagle Football Group this weekend.
Eagle Football issues alarming statement
If the group owned by John Textor reveals that the income from its activities rose to 361 million euros, an increase of 25%, the press release also reveals that Eagle has a clear strategy for rationalizing its operating costs, which could lead to a plan for voluntary departures but not only. “The contribution of €75 million by the end of December in the form of equity and/or proceeds from the sale of players held by clubs in the group and the contribution of a maximum amount of €40 million from the planned sale of his stake in Crystal Palace » are intended to replenish the coffers.
However, what will happen if John Textor fails to sell the players as he plans, or if the sale of his shares in Crystal Palace were to collapse? “Although the group considers that it is probable that all or part of these financing operations will be completed, any significant delay or non-realization of these cash flows could call into question the principle of continuity of operation of the company and its subsidiaries » indicates the Eagle Football group in its official press release, before concluding by explaining that “the auditors are considering issuing an impossibility of certifying on the corporate and consolidated accounts”.
Not really enough to reassure supporters about Eagle's financial health, and it's not Romain Molina who will say the opposite. On his “In a normal world, the DNCG pronounces the administrative relegation of OL to L2 this winter given the financial state of the club (and the structure holding it)” published the journalist. Enough to make Lyon supporters tremble and reinforce distrust of John Textor for a long time.
