Lyon was already warned in November by the DNCG financial control committee that the club would relegate if the financial situation did not improve. During a hearing on Tuesday, Lyon did not convince the committee to reverse the measure. The number 6 of the last season in the Ligue 1 still has the opportunity to appeal. And the club did almost immediately, they said on X.
John Textor, the American club owner, rather had good hope for a positive outcome. “We have made different investments in recent weeks. Everything is in a good financial position,” he said recently.
Hundreds of employees left at Lyon
Textor with his company Eagle Football Holdings Limited owns several football clubs. On Monday he sold his interest in Crystal Palace, England, in a deal that, according to the BBC, raised 222 million euros. A recent IPO also yielded extra funds. In addition, about a hundred employees left at Lyon, expensive contracts were terminated and some players were sold.
Between 2002 and 2008, Lyon became champion of France seven times in a row. The club also won six French cups in the past.