Former football series champion Olympique Lyon was downgraded by the National Control and Administrative Directorate (DNCG) for violations of the financial requirements in Ligue 2.
This was announced by the professional football league (LFP) on Tuesday evening. At a hearing on Tuesday afternoon, Lyon tried unsuccessfully to convince the French financial regulator to lift the measures imposed in November against the seven -time master. Among these is the administrative downgrading.
Lyon won the French championship for the first time in 2002 – and then until 2008 in every following year.
Financial injection is not enough
Before the hearing, Ol owner John Textor had shown himself confidently after trying to bring the club back into balance for seven months. “Everything is financially solid”the chairman of the Eagle Football Holding assured. According to a financial injection of 83 million euros, there was only an agreement with the club’s creditors in January. Lyon also reduced salaries through a voluntary severance payment for around a hundred employees and the departure of top-class players such as club icon Alexandre Lacazette.
Transfers like that of Rayan Cherki to Manchester City helped stabilize the finances. Olympique can make an appeal against the decision. If the decision is confirmed, Stade Reims could receive Lyon’s place in Ligue 1. Reims had pulled the shorter in the playoffs against FC Metz (1: 1/1: 3 NV).