Lyon paid the price for a reckless gamble.

Lyon are not losing on the pitch, but they are losing badly in a much more intense battle: the financial war.

Rayan Cherki was sold by Lyon to Man City last summer.

The club's deficit of over 200 million euros in the 2024–2025 financial year is not just a dry number. It marks the end of a period of risky, uncontrolled, and unrealistic management in French football.

Lyon was once a symbol of stability. Seven consecutive Ligue 1 titles weren't due to luck, but to a well-structured operation, effective youth development, and disciplined spending. But it all collapsed in just a few seasons when a multi-ownership model was implemented as an ill-prepared "globalization" formula. John Textor brought great ambition, but his departure left a deep financial void.

Lyon's problem isn't a failed transfer or a poor season. It's the way the club has been dragged into a cycle of borrowing to fuel short-term ambitions. Revenue has plummeted, expenses have ballooned, and the wage bill is out of control. Even selling Rayan Cherki for a high price wouldn't save Lyon. Selling assets to cover losses is only a temporary solution, not a sustainable path forward.

The threat of relegation, followed by the signing of a financial control agreement with UEFA, showed that Lyon had hit rock bottom. Lyon president Michele Kang emerged as the cleanup crew. Cutting the wage bill by 40%, scaling back investment, and tightening the organizational structure were painful but necessary decisions. Lyon had no choice but to slow down, tighten their belts, and return to their core values.

Lyon's story also serves as a warning to Ligue 1 as a whole. In a league already weak in terms of television rights and commercial appeal, financial gambles become even more dangerous. PSG might be an exception thanks to its exceptional financial resources. The rest are not.

Lyon now has to learn to survive before thinking about a resurgence. If they can overcome this period, they may be able to return. But if they continue to cling to illusions, even their glorious history won't be enough to shield a club that is burning itself from within.

Source: https://znews.vn/lyon-tra-gia-cua-mot-cuoc-choi-lieu-linh-post1611189.html