American investor John Textor completed an acquisition in Olympique Lyonnais. Textor previously bought a minority stake in the French club last summer. However, increased investment has brought the entrepreneur’s share of the team from 40% to 78%. This means that he now has control at the club.
The Financial Times reports that the deal closed for around $940 million. The media outlet also claims that the investment group could soon buy back the remaining 22% of the club.
Lyon is now the fourth team that Textor currently has a stake in. The American also owns 40% of Crystal Palace, 90% of Botafogo and 80% in the Belgian side RWD Molenbeek. All four purchases have been made in the last 18 months. Following Lyon’s announcement, Textor stated that it will be a new chapter for the Ligue 1 team.
An American investor takes over Olympique Lyonnais
“Today represents a new beginning for Olympique Lyonnais,” Textor proclaimed. “After four months of constructive negotiations marked by a common understanding with Jean-Michel Aulas and all our partners, we are proud to reach this exceptional agreement.”
“It will be a milestone in the history of European and international football development, thanks to the combination within one structure, Eagle Football, of our interests in football clubs with a rich culture and decades of experience: Olympique Lyonnais, Crystal Palace, Botafogo. , and RWD Molenbeek”.
Aulas stays at Lyon despite the sale
Aulas has been Lyon’s owner and chairman since 1987. He is widely regarded as a tough dealmaker in transfer talks. Despite the takeover bid, Textor has made it clear that Aulas will remain at the club.
“Eagle Football, in which Jean-Michel Aulas will be an independent director, intends to quickly implement the collaboration between its clubs, especially in France, Brazil and Belgium, linking the training and development methodologies of Olympique Lyonnais, a reference in field”.
“Therefore, the conditions are right for us to work together, with Jean-Michel, on issues of sports, organization and infrastructure. He will maintain the operational management of Olympique Lyonnais for at least three years and will remain surrounded by his team.”
Lyon is one of the biggest teams in France. They have amassed seven top wrestling division titles during their storied history. However, the club is currently on a bit of a downward trend. Lyon are eighth in the Ligue 1 table at the moment, a place where they finished the previous campaign.
PHOTO: IMAGO / Panoramic
