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Textor became Lyon's majority shareholder in December 2022, buying 77% of the shares from shareholders for a total deal value of 800 million euros. |
On the morning of June 30, Lyon's homepage officially confirmed that John Textor, an American businessman and owner of the club through Eagle Football Group, had resigned from all management positions, including the Board of Directors, after the team was relegated to Ligue 2 due to financial problems.
The decision marks a major turning point for Lyon amid the current turmoil. Michele Kang will be appointed as Lyon's President and CEO, while Michael Gerlinger will become the club's new director.
Businessman Textor took control of Lyon from June 2022, after buying 77% of the shares from shareholders, including former president Jean-Michel Aulas, with a total deal value of up to 800 million euros.
However, he has come under increasing pressure after the club was relegated to Ligue 2 by the French Football Federation’s National Management Control Commission (DNCG) on June 24. Lyon’s 77% owner had said in November 2024 that there was “no possibility” of the French side being relegated.
However, financial restructuring efforts, including wage cuts and player sales, have not had the desired effect. Textor is in a race against time to "rescue" the club. In an effort to improve Lyon's financial situation, Textor agreed to sell his 43% stake in Crystal Palace to Woody Johnson, owner of the New York Jets football team.
By stepping down as club president, Textor hopes Lyon can soon find investors in the team. The American businessman announced that he will focus on managing Botafogo (Brazil) and RWD Molenbeek (Belgium), after selling his shares in Crystal Palace (England).
Source: https://znews.vn/chu-tich-tu-chuc-ca-doi-lyon-nin-tho-post1564908.html
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