the essential
This Friday, November 15, John Textor has a meeting with the financial policeman of French Football. This major deadline comes a week after Eagle Football Group, the holding company that owns the Rhone club, published the alarming state of its accounts.
Lyon supporters are currently experiencing contrasting moments. On a sporting level, Olympique Lyonnais has had a good start to the season, in fifth place in Ligue 1 and well positioned in the Europa League. But, on the financial side, the shoe pinches, while John Textor, the president of the club, must meet the DNCG this Friday, for a mid-season interview.
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During this decisive moment, the Lyon leader will have to provide financial guarantees to the French football policeman. Guarantees “which would cover a sum of between 100 and 200 million euros”, according to L’Équipe.
Accounts in the red
If this meeting worries supporters so much, it is because last week, Eagle Football Group (formerly OL Groupe), the holding company that owns OL, revealed its annual results. Despite an increasing result, the net debt of the treasury amounts to 463.8 million euros.
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Finances in the red, OL must replenish its coffers. In its press release, the company led by John Textor announces “contributions of €75 million by the end of December 2024”. A sum which could come from the sale of shares in Crystal Palace held by the American and the sale of players from OL, Botafogo (Brazil) and Molenbeek (Belgium), the three clubs owned by the holding company. Eagle Football Group could directly contribute up to 100 million, thanks to its potential entry on the New York Stock Exchange in early 2025.
Potential sanctions
Before the DNCG, the people of Rhodan will have to provide guarantees and not hypotheses. John Textor must ensure the financial sustainability of his club. However, “although optimistic” about its strategy, Eagle Football Group writes that a failure could “call into question the principle of continuity of operation of the company and its subsidiaries”, of which the 'OL.
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If the DNCG considers that the financial health of the club is not certified, it could impose sanctions. As in the summer of 2023, Olympique Lyonnais is exposed to supervision of recruitment and payroll. In the worst case, administrative relegation could be considered. This Friday, Les Gones are undoubtedly playing the most important match of their season.
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