a Gérard Lopez-style destiny for John Textor?

The specter of an ouster of John Textor, like Gerard Lopez in Lille in 2020, hangs over Olympique Lyonnais. Like Lopez before him, the American must deal with pressure from powerful creditors, notably the Ares investment fund. If he were to fail to honor his financial commitments, Ares could take control of the club, like what Elliott Management did with AC Milan. This scenario would allow pragmatic management of the club's assets, but it would distance the businessman from the head of the Lyon institution. This hypothesis worries some observers, although it is tempered by the solidity of OL's assets, such as its stadium, its training center, and its player pool, as underlined the Team.

Textor stronger than Lopez?

“I'm more worried about Textor than OL. Because there is a fund behind it, Ares. If Textor fails to honor its debt, Ares will take the baby back and manage it like the Elliott fund did for AC Milan“, explains Vincent Chaudel, founder of the Sports Business Observatory, in the columns of the Team. Legal and financial obstacles make this outcome less likely than in Lille. Change of control clauses in loan agreements require the agreement of all creditors. The latter, keen to protect their investments, have no interest in seeing OL sink into Ligue 2. Unlike Lopez, who saw his economic model collapse under the weight of debt, Textor could benefit from a consensus creditors around a common vision to keep the club competitive. However, the sword of Damocles remains very present: any financial misstep could precipitate a scenario similar to that experienced by Lille.

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