Lyon relegated to French soccer's second tier amid ongoing financial problems
Seven-time French champion Lyon was relegated to the second tier on Tuesday because of ongoing financial irregularities.
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The decision followed an audit of the club's finances by the French league's soccer watchdog, known as DNCG. French sports daily L'Equipe estimated Lyon's current debt at 175 million euros ($203 million). Lyon was expected to appeal the decision.
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The decision comes after the DNCG had already provisionally relegated Lyon to Ligue 2 in November, with the club reporting at the time that it had more than 500 million euros ($581 million) of debt. A transfer ban was also imposed in the January transfer window.
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Lyon is owned by American businessman John Textor, who has stakes in Brazil's Botafogo and Premier League team Crystal Palace.
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Textor was present for the hearing in Paris on Tuesday. He had been optimistic it would be successful for Lyon, which has been trying to balance the books.
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On Monday, Premier League side Crystal Palace announced that New York Jets owner Woody Johnson signed 'a legally binding contract' to buy Textor's shares. Textor has a 43% stake in the London club. Reports have placed the price between $220 million and $260 million.
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Two weeks ago, Lyon received a much-needed cash injection by selling coveted playmaker Rayan Cherki for 36 million euros.
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But the club has been under growing pressure.
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Two years ago, the DNCG decided to monitor the club's transfer activities, saying its moves on the market would be limited under 'a framework for wage costs and transfer indemnities.'
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Edmonton Journal
8 hours ago
- Edmonton Journal
Lyon relegated to French soccer's second tier amid ongoing financial problems
Article content The decision comes after the DNCG had already provisionally relegated Lyon to Ligue 2 in November, with the club reporting at the time that it had more than 500 million euros ($581 million) of debt. A transfer ban was also imposed in the January transfer window. Lyon is owned by American businessman John Textor, who has stakes in Brazil's Botafogo and Premier League team Crystal Palace. Textor was present for the hearing in Paris on Tuesday. He had been optimistic it would be successful for Lyon, which has been trying to balance the books. On Monday, Premier League side Crystal Palace announced that New York Jets owner Woody Johnson signed 'a legally binding contract' to buy Textor's shares. Textor has a 43% stake in the London club. Reports have placed the price between $220 million and $260 million. Two weeks ago, Lyon received a much-needed cash injection by selling coveted playmaker Rayan Cherki for 36 million euros. But the club has been under growing pressure. Two years ago, the DNCG decided to monitor the club's transfer activities, saying its moves on the market would be limited under 'a framework for wage costs and transfer indemnities.' Lyon won its seven league titles from 2002-08 and reached the Champions League semifinals in 2020. Lyon narrowly lost to Manchester United in the Europa League quarterfinals and missed out on a cash windfall when it failed to qualify for next season's Champions League after finishing sixth in Ligue 1.
National Post
8 hours ago
- National Post
Lyon relegated to French soccer's second tier amid ongoing financial problems
Seven-time French champion Lyon was relegated to the second tier on Tuesday because of ongoing financial irregularities. Article content The decision followed an audit of the club's finances by the French league's soccer watchdog, known as DNCG. French sports daily L'Equipe estimated Lyon's current debt at 175 million euros ($203 million). Lyon was expected to appeal the decision. Article content Article content The decision comes after the DNCG had already provisionally relegated Lyon to Ligue 2 in November, with the club reporting at the time that it had more than 500 million euros ($581 million) of debt. A transfer ban was also imposed in the January transfer window. Article content Lyon is owned by American businessman John Textor, who has stakes in Brazil's Botafogo and Premier League team Crystal Palace. Article content Textor was present for the hearing in Paris on Tuesday. He had been optimistic it would be successful for Lyon, which has been trying to balance the books. Article content On Monday, Premier League side Crystal Palace announced that New York Jets owner Woody Johnson signed 'a legally binding contract' to buy Textor's shares. Textor has a 43% stake in the London club. Reports have placed the price between $220 million and $260 million. Article content Two weeks ago, Lyon received a much-needed cash injection by selling coveted playmaker Rayan Cherki for 36 million euros. Article content But the club has been under growing pressure. Article content Two years ago, the DNCG decided to monitor the club's transfer activities, saying its moves on the market would be limited under 'a framework for wage costs and transfer indemnities.' Article content
Toronto Sun
8 hours ago
- Toronto Sun
Lyon relegated to French soccer's second tier amid ongoing financial problems
Published Jun 24, 2025 • 1 minute read John Textor, Chairman of Eagle Football Holdings, speaks during the FT Business of Football Summit in London, Thursday, Feb. 29, 2024. Photo by Kin Cheung / AP Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. Seven-time French champion Lyon was relegated to the second tier on Tuesday because of ongoing financial irregularities. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The decision followed an audit of the club's finances by the French league's soccer watchdog, known as DNCG. French sports daily L'Equipe estimated Lyon's current debt at 175 million euros ($203 million). Lyon was expected to appeal the decision. The decision comes after the DNCG had already provisionally relegated Lyon to Ligue 2 in November, with the club reporting at the time that it had more than 500 million euros ($581 million) of debt. A transfer ban was also imposed in the January transfer window. Lyon is owned by American businessman John Textor, who has stakes in Brazil's Botafogo and Premier League team Crystal Palace. Textor was present for the hearing in Paris on Tuesday. He had been optimistic it would be successful for Lyon, which has been trying to balance the books. This advertisement has not loaded yet, but your article continues below. On Monday, Premier League side Crystal Palace announced that New York Jets owner Woody Johnson signed 'a legally binding contract' to buy Textor's shares. Textor has a 43% stake in the London club. Reports have placed the price between $220 million and $260 million. Two weeks ago, Lyon received a much-needed cash injection by selling coveted playmaker Rayan Cherki for 36 million euros. But the club has been under growing pressure. Two years ago, the DNCG decided to monitor the club's transfer activities, saying its moves on the market would be limited under 'a framework for wage costs and transfer indemnities.' Lyon won its seven league titles from 2002-08 and reached the Champions League semifinals in 2020. Lyon narrowly lost to Manchester United in the Europa League quarterfinals and missed out on a cash windfall when it failed to qualify for next season's Champions League after finishing sixth in Ligue 1. Toronto Blue Jays Toronto & GTA Toronto & GTA NHL World
