Lyon changes ownership

He Olympique Lyonnais (OL), one of the big clubs in France, will pass into the hands of the American businesswoman of South Korean origin Michele Kangthe president of the entity for a year, but who will now control its capital by purchasing the debt of the previous owners while committing to inject 75 million euros.

“Michele Kang has personally committed to repurchase debt from Eagle Bidco’s major lenders (from the previous owner’s group John Textor) and would become, alone, the controlling shareholder of OL”, indicated the OL in the statement announcing the agreement.

It will also inject 71 million euros

Kang “has committed to inject up to 71 million euros (taking into account transaction costs) into the group”, added the Rhône club.

In any case, this operation will depend on the decision of the National Directorate of Control and Management (DNCG), which examines whether Lyon is viable to remain in the French First Division.

“If the operation materializes, Olympique Lyonnais will leave the ‘Eagle Football’ group (from Textor) to become OL Groupe again, as before. The company will continue to be listed on the stock market,” added the note.

The OL thanked “to Ares (investment fund that backed Textor) his support, as well as all his major lenders, especially Goldman Sachs, MUFG and MetLife, for giving him a second chance.

Avoided administrative relegation in 2025

Lyon was relegated to the second division in June 2025 due to a debt that amounted to 175 million euros. The club finally did not go down after the DNCG positively appreciated the replacement of Textor by Kang.

Textor’s administration had been the subject of warnings from the DNCG since the end of 2024 for the lack of control of its accounts.

Nor had its timeshare strategy helped the American investor. In addition to having bought Lyon in 2022, he owns the Brazilian Botafogo and Belgian RWD Molenbeek.

Lyon is one of the most established French clubs and has seven League titles (all won between 2002 and 2008), five Cups, eight Super Cups and one League Cup, as well as a European Intertoto Cup.

Figures like the French have passed through the ranks of Lyons Karim Benzema, Hugo Lloris, Éric Abidal, Bernard Lacombe, Alexandre Lacazette or Jean Tigana, the Brazilians Sonny Anderson, Juninho Pernambucano and Endrick, or the Argentine Lisandro López.