Lyon Owner John Textor Assures Fans Amid Financial Concerns
Olympique Lyonnais (OL) owner John Textor has publicly reassured fans about the club’s financial stability, despite looming sanctions from UEFA and the DNCG (Direction Nationale du Contrôle de Gestion), the French football financial watchdog. The American businessman addressed supporters’ concerns directly, stating that the club has the necessary funds and urging them to disregard negative media reports.
Textor Vows Financial Stability for Lyon
In a direct exchange with Lyon supporters on Saturday, Textor addressed concerns about the club’s financial situation. When asked directly by a fan if he had the money, Textor responded, “Yes, no worries, we have it and we will spend it. Stop reading the press. You don’t have to worry.” He further emphasized his commitment by stating, “I’ve spent 293 million euros as I bought the club, do you think I’m going to give up as they (the DNCG) are asking us for 50? Everything is fine.”
Sanctions Loom over French Club
Lyon is currently facing scrutiny from both the DNCG in France and UEFA due to its financial situation. The DNCG has already imposed restrictions on the club’s transfer activity. UEFA’s financial control body, ICFC, is also considering sanctions, potentially including a fine of €10 million and restrictions on the club’s payroll and transfer spending, according to reports. these measures stem from concerns about the club’s financial health.
Recapitalization Plans in the Works
To address the financial concerns, Textor had outlined a recapitalization plan centered on the stock market introduction of Eagle Football Holdings, the parent company, and the selling of Crystal Palace shares. These operations where expected to inject approximately €190 million into Lyon’s accounts. The failure to solidify the financial operation nearly excluded the club from Europa League this season.
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Lyon Owner John Textor Assures fans Amid Financial Concerns
Olympique Lyonnais (OL) owner John Textor has publicly reassured fans about the club’s financial stability, despite looming sanctions from UEFA and the DNCG (Direction Nationale du Contrôle de Gestion), the French football financial watchdog. The American businessman addressed supporters’ concerns directly, stating that the club has the necessary funds and urging them to disregard negative media reports.
Textor Vows Financial Stability for Lyon
In a direct exchange wiht Lyon supporters on Saturday, Textor addressed concerns about the club’s financial situation. When asked directly by a fan if he had the money,textor responded,”yes,no worries, we have it and we will spend it.Stop reading the press.You don’t have to worry.” He further emphasized his commitment by stating,”I’ve spent 293 million euros as I bought the club,do you think I’m going to give up as they (the DNCG) are asking us for 50? Everything is fine.”
Sanctions Loom over French Club
Lyon is currently facing scrutiny from both the DNCG in France and UEFA due to its financial situation. the DNCG has already imposed restrictions on the club’s transfer activity. UEFA’s financial control body, ICFC, is also considering sanctions, potentially including a fine of €10 million and restrictions on the club’s payroll and transfer spending, according to reports. these measures stem from concerns about the club’s financial health.
Recapitalization Plans in the works
To address the financial concerns, Textor had outlined a recapitalization plan centered on the stock market introduction of Eagle Football Holdings, the parent company, and the selling of Crystal Palace shares. These operations where expected to inject approximately €190 million into Lyon’s accounts. The failure to solidify the financial operation nearly excluded the club from Europa League this season.
Q&A: Decoding Lyon’s Financial Situation
Q: Who is John Textor?
A: John Textor is an American businessman and the current owner of Olympique Lyonnais (Lyon), having acquired the club in 2022. He also owns Crystal Palace and Botafogo through his Eagle Football Holdings.
Q: What is the DNCG and why is it crucial?
A: The DNCG (Direction Nationale du Contrôle de Gestion) is the French football financial watchdog. It monitors the financial health of all professional football clubs in France. They can impose sanctions like transfer restrictions if a club is in financial trouble.
Q: What sanctions is Lyon facing?
A: Lyon is under scrutiny from both the DNCG and UEFA.The DNCG has already restricted their transfer activity. UEFA could impose a €10 million fine, along with further restrictions on payroll and transfer spending.
Q: what is Textor doing to address the financial issues?
A: Textor planned a recapitalization plan, including a stock market introduction of Eagle Football holdings and selling Crystal Palace shares, aiming to inject approximately €190 million into Lyon.This action nearly prevented lyon from playing in the Europa League.
Q: Why is financial stability critically important for a football club?
A: Financial stability is crucial for a club to pay its players and staff,invest in the team (transfers and infrastructure),and avoid penalties from governing bodies. Without it,a club can be severely restricted in its operations and even face relegation.
Q: what can fans do?
A: remain patient and be aware that the financial health of a club can impact its performance on the field.
The situation at Lyon is complex, but Textor’s assurances offer a glimmer of hope. Keep an eye on the club’s financial moves, as they will directly impact its future.
