Lyon handed Ligue 2 relegation by financial regulator
LYON: Seven-time Ligue 1 champions Lyon have been relegated to the second-tier by French football's financial watchdog, the French professional league (LFP) announced on Tuesday.
For the latest updates, follow us @ArabNewsSport
During a hearing earlier in the day, Lyon were unable to convince the regulator (DNCG) to lift the restrictions it had put on the club in November.
Lyon can appeal the decision.
Before the meeting, Lyon's president John Textor said he was confident of avoiding the drop to Ligue 2 for next season, where the club has not played since 1989.
'We have made a variety of investments in recent weeks,' he said. 'Everything is good financially.'
American Textor sold his 43 percent stake in Premier League outfit Crystal Palace earlier in the week. Lyon have reduced their salary bill and sold Rayan Cherki to Manchester City and Maxence Caqueret to Como.
Lyon qualified for next season's Europa League after finishing sixth in the French top-flight.
If their relegation is confirmed, they would be replaced in Ligue 1 by Reims.
Lyon won seven consecutive French titles between 2002 and 2008. Only five clubs have won Ligue 1 more often. Paris Saint-Germain hold the record with 13 titles.
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