SPORTSWORLD.AM
Olympique Lyonnais have announced the resignation of John Textor and the appointment of Michel Kang as President and CEO of Eagle Football Group. In addition, Michael Herlinger has been appointed as the club's CEO. However, this is not the only news about the club today: UEFA has also issued a statement.
Following Textor's sale of his shares to Crystal Palace, the governing body has decided to delay a decision on whether to comply with timeshare rules. Meanwhile, UEFA has confirmed that if the DNCG (France's financial watchdog) confirms Lyon's relegation to Ligue 2, the Rhône club will not be able to participate in the Europa League.
"Finally, the First Chamber of the CFCB (Club Financial Control Body) has decided to postpone the examination of the case of simultaneous ownership of several clubs, which concerns Olympique Lyonnais and Crystal Palace. This decision also concerns the implementation of the terms of the agreement concluded by Olympique Lyonnais with the First Chamber of the CFCB regarding the breach of financial obligations. As part of this agreement, Olympique Lyonnais agreed to be excluded from European competitions for the 2025/26 season if the French regulatory body, the DNCG, confirms the club's relegation to Ligue 2. Further information on the case of simultaneous ownership of several clubs and the terms of the agreement will be published at a later date," UEFA said in a statement.
Lyon were relegated from Ligue 2 for failing to meet their financial obligations. The club's total debt is around €500 million, of which only €100 million is due. The club has appealed the decision and is currently awaiting a decision.