Former Champions League semi-finalists RELEGATED in shock decision that could affect Crystal Palace Europa League hopes
KNOCKED DOWN Former Champions League semi-finalists RELEGATED in shock decision that could affect Crystal Palace Europa League hopes
FRENCH giants Lyon have been relegated to the second division.
The decision comes due to debts racked up by their owners the Eagle Football Group.
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Lyon have been relegated to Ligue 2
Credit: Getty
The company is fronted by American businessman John Textor.
Last year's accounts showed that the Eagle Football Group's debts had soared to £422million.
Lyon were subsequently hit with provisional relegation to Ligue 2 back in November based on their finances not improving.
But despite Textor raising funds by selling players, the club's women's team and his 43 per cent stake in Crystal Palace for £190m, the authorities have ruled it as not enough.
Lyon can launch an appeal following the decision by the DNGC, who oversee the accounts of French football clubs.
Textor also owns Brazilian club Botafogo and Belgian outfit RWD Molenbeek.
His sale of his Palace stake to New York Jets owner Woody Johnson needs to be ratified by the Premier League via the owners' and directors' test.
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