This Friday, the DNCG delivered its verdict concerning the OL case. The Rhone club is “demoted as a precautionary measure at the end of the current season”.
John Textor was nevertheless confident before his club's appearance before the DNCG. But this Friday, the DNCG delivered its verdict concerning the OL case. The Rhone club is in fact “demoted as a precautionary measure at the end of the current season”. In other words, Lyon will be “demoted if his financial situation does not improve”. In addition to this, OL is prohibited from recruiting this winter and the payroll must be regulated.
The arguments of the American owner were therefore not heard by the financial policeman. As a reminder, John Textor was interviewed this Friday for several hours, like Laurent Prud'homme, the general director of the club. In a press release a few days ago, Lyon presented a debt of more than 500 million euros.
The American John Textor, owner of the club, had nevertheless assured Friday afternoon that he was not “at all worried about sustainability” of the company that oversees Olympique Lyonnais, after his audition in Paris. “I am confident in our figures”, “we are going to bring in several hundred million in cash in the coming months”according to statements sent to AFP by the club.
The businessman, who bought OL from Jean-Michel Aulas in 2023, assured that the LFP body had looked “the complete picture” of the parent company Eagle Football Holdings, which also owns the clubs Botafogo in Brazil and Molenbeek in Belgium. Last week, its French branch published income statements which plunged supporters into doubt. Despite a reduction in its net losses, Eagle Football Group's net cash debt remains at €463.8 million.
“Pressure”
To clear them, the company relies on inflows of money coming in particular from Botafogo and Molenbeek, but, considering that it does not have sufficient elements to judge the character “reasonable” of these assumptions, the auditors have indicated that they might not certify the accounts. “The local commissioners only looked at the French football club and did not consider the hundreds of millions of dollars that will come from different parts of our organization”lamented John Textor. “We are not at all worried about our sustainability”.
To reassure Lyon supporters, the American also assured that the club would not cede its best elements because its “goal is to be selected for the Champions League this year”. “We earn around 90 million euros per year from the sale of players”he said. “It will continue but don't worry, he won't be your favorite player, the best player, if we don't have someone to replace him and play even better”.
“I am confident in our figures but I am never confident in the way a regulatory body sees things”he nevertheless admitted, evoking “pressures” of his “enemies” dont “a big club linked to Qatar”. In July 2023, the DNCG had already taken measures to control payroll and transfer compensation. This situation had forced the Rhone club to undertake summer recruitment, carried out on the cheap and, in the end, unsuccessful.
