John Textor is officially no longer president of OL, Michele Kang replaces him

John Textor will no longer have the opportunity to proclaim his optimism—contradicted a few hours later—at the end of each of his appearances before the National Directorate of Management Control (DNCG). Weakened by his repeated failures in the financial management of Olympique Lyonnais and, above all, by the recent relegation of his club to Ligue 2 by the financial watchdog of French football, the American businessman is resigning from his position as president of the Rhône-based club and also from that of Eagle Football Group, formerly OL Groupe.

In a press release published on Monday, June 30, Eagle Football Group announced two appointments in an attempt to save what can be saved in Lyon. Close to Textor and a major shareholder in Eagle Football Holding, the umbrella organization for clubs Botafogo (Brazil), Molenbeek (Belgium), and Lyon, Michele Kang, 66, becomes "club president and CEO of Eagle Football Group."

Invested in women's football, the American billionaire bought the women's section of OL in 2023 for around fifty million euros, renaming it OL Lyonnes in May 2025. "We are entering a critical period for Lyon and I would like to thank John for his commitment and vision which have allowed the club to join the Eagle family," she said in the press release. "Michele is the ideal choice to lead OL in the next phase and I have full confidence in her and in OL, which will emerge stronger under her leadership," judges her predecessor.

Another close friend of John Textor is taking part in this delicate rescue operation, which will go through the appeal process before the DNCG (National Football Commission) in an attempt to avoid relegation. German Michael Gerlinger, who previously served as sporting director of Eagle Football Holdings, will primarily manage Olympique Lyonnais, having been appointed "club general manager." A former manager of Bayern Munich, a European football institution, Gerlinger enjoys a high level of respectability in football circles, which will be useful to the seven-time French champion club of the 2000s.

These moves, expected for several days, reflect a loss of confidence in John Textor, but do not yet change his control of the club, of which he remains the majority shareholder. On the sidelines of the Club World Cup round of 16 loss by his Brazilian club Botafogo, the American businessman mentioned this withdrawal in an interview with the South American media Globo : "I will devote a lot more time to thinking about Eagle on a global scale, and return to Botafogo more often."

While he acknowledged that he had "not been able to resolve problems in France" , Textor then justified himself by highlighting the difficulty for "an American investor to adapt to the system there [in France] , which has always been strange".

Michele Kang's commitment will likely extend beyond the crucial deadline of the appeal of the DNCG decision, which is expected to take place in July: "I look forward to working closely with Michael, the OL management team and the board of directors to support the club throughout the proceedings before the DNCG and beyond."

These moves are also an indicator of the influence of Ares, which lent Textor around €400 million for the club's December 2022 purchase (estimated at around €800 million) from Jean-Michel Aulas. If OL's difficulties persist, this investment fund may, in fact, be concerned about the Floridian's ability to repay it.