Football: warning shot for Lyon, relegated to Ligue 2 for economic reasons

Olympique Lyonnais has been relegated to Ligue 2 by the National Directorate of Control and Management (DNCG), the Professional Football League (LFP) announced on Tuesday evening, June 24.

During its hearing in the afternoon, the club failed to convince the French football financial watchdog to lift the restrictive measures it had imposed on it in November, including a precautionary administrative demotion to Ligue 2.

OL owner John Textor, the American, had nevertheless appeared confident before appearing before the DNCG, after seven months of efforts to rebalance his club's accounts .

"We have made various investments in recent weeks. Everything is in good financial shape," the manager, president of the Eagle Football Holding (EFH) structure, recently assured.

Efforts to achieve financial balance deemed insufficient

And on Monday, June 23, just hours before his hearing, he obtained an agreement for the sale of his shares in the English club Crystal Palace to the American businessman Robert Wood Johnson, owner of the American football team the New York Jets, a transaction estimated at 190 million pounds (222 million euros) by the BBC.

EFH had previously launched its initial public offering on the New York Stock Exchange on June 13, and Eagle and its shareholders also provided €83 million in cash and reached an agreement with creditors at the end of January.

A possibility of appeal, Reims in pole position to move up...

In addition to a voluntary redundancy plan for around a hundred employees , the club has also reduced its payroll with the end of very expensive contracts such as those of Alexandre Lacazette and Anthony Lopes, and carried out the transfers of Maxence Caqueret and Rayan Cherki.

OL can appeal but if its relegation is confirmed, its place in Ligue 1 will be reserved for Reims , beaten in the L1/L2 play-offs by Metz.