Latest news with #DNCG
Telegraph
09-07-2025
- Business
- Telegraph
Crystal Palace face expulsion from Europa League
Lyon were demoted by French football's financial watchdog (DNCG) in November over the poor state of their finances under Eagle Football ownership. Initial relegation was confirmed last month after a meeting between club owner John Textor and the DNCG. Women's football mogul Michele Kang, who owns Lyon's women's team OL Lyonnes, has been appointed president, replacing Textor. 'Today's decision is the first step in restoring confidence in Olympique Lyonnais and we now return our focus to creating success on the pitch, ready for next season,' the French club said. The First Chamber of Uefa's Club Financial Control Body had announced it had 'decided to postpone its assessment of the multi-club ownership case involving Olympique Lyonnais and Crystal Palace' pending the Lyon appeal. Johnson is understood to have paid about £200 million to buy 42.9 per cent of Palace previously owned by US investor Textor. The deal was expected to satisfy Uefa that there are no multi-club issues. It is subject to approval by the Premier League and its owners' and directors' test. The development takes Textor out of the picture at Palace, leaving chairman Steve Parish and original US investors Josh Harris and David Blitzer to run the club, with Johnson as a supportive partner. Textor had neglected to place his shares in Lyon in a blind trust by the early-March deadline in order to comply with Uefa rules.
San Francisco Chronicle
09-07-2025
- Business
- San Francisco Chronicle
French side Lyon will stay in Ligue 1 after relegation is overturned on appeal
PARIS (AP) — Storied French club Lyon won its appeal against relegation on Wednesday and will stay in Ligue 1 next season. The seven-time French champion was relegated to the second tier two weeks ago by the French league's soccer watchdog, known as DNCG, because of ongoing financial irregularities and debts estimated at at 175 million euros ($203 million). Lyon immediately appealed and presented its case before the DNCG on Wednesday. "Olympique Lyonnais welcomes today's decision by the DNCG to keep the club in Ligue 1,' Lyon said in a statement. '(Lyon) thanks the appeals committee for recognizing the ambition of the club's new management, (which is) determined to ensure serious management in the future.' Last Wednesday, American businesswoman Michele Kangtook over as president after John Textor resigned following the club's relegation. Lyon added that Textor has also resigned from the board of directors. He became Lyon president three years ago, taking over from longstanding incumbent Jean-Michel Aulas, who sold to Textor's Eagle Football Holdings. The 66-year-old Kang is supported in her role by Michael Gerlinger, the general manager of Eagle Football Holdings. "The new management, supported by the commitment and dedication of our shareholders and lenders, is extremely grateful for all the support received both within and outside the club," Lyon added. 'Today's decision is the first step in restoring confidence in Olympique Lyonnais. We can now focus our attention on our sporting objectives, fully preparing for next season.' Wednesday's verdict also ensures Lyon plays in the Europa League next season after qualifying with a sixth-placed finish in Ligue 1 last season. ___
Fox Sports
09-07-2025
- Business
- Fox Sports
French side Lyon will stay in Ligue 1 after relegation is overturned on appeal
Associated Press PARIS (AP) — Storied French club Lyon won its appeal against relegation on Wednesday and will stay in Ligue 1 next season. The seven-time French champion was relegated to the second tier two weeks ago by the French league's soccer watchdog, known as DNCG, because of ongoing financial irregularities and debts estimated at at 175 million euros ($203 million). Lyon immediately appealed and presented its case before the DNCG on Wednesday. "Olympique Lyonnais welcomes today's decision by the DNCG to keep the club in Ligue 1,' Lyon said in a statement. '(Lyon) thanks the appeals committee for recognizing the ambition of the club's new management, (which is) determined to ensure serious management in the future.' Last Wednesday, American businesswoman Michele Kangtook over as president after John Textor resigned following the club's relegation. Lyon added that Textor has also resigned from the board of directors. He became Lyon president three years ago, taking over from longstanding incumbent Jean-Michel Aulas, who sold to Textor's Eagle Football Holdings. The 66-year-old Kang is supported in her role by Michael Gerlinger, the general manager of Eagle Football Holdings. "The new management, supported by the commitment and dedication of our shareholders and lenders, is extremely grateful for all the support received both within and outside the club," Lyon added. 'Today's decision is the first step in restoring confidence in Olympique Lyonnais. We can now focus our attention on our sporting objectives, fully preparing for next season.' Wednesday's verdict also ensures Lyon plays in the Europa League next season after qualifying with a sixth-placed finish in Ligue 1 last season. ___ AP soccer: in this topic
Hamilton Spectator
09-07-2025
- Business
- Hamilton Spectator
French side Lyon will stay in Ligue 1 after relegation is overturned on appeal
PARIS (AP) — Storied French club Lyon won its appeal against relegation on Wednesday and will stay in Ligue 1 next season. The seven-time French champion was relegated to the second tier two weeks ago by the French league's soccer watchdog, known as DNCG, because of ongoing financial irregularities and debts estimated at at 175 million euros ($203 million). Lyon immediately appealed and presented its case before the DNCG on Wednesday. 'Olympique Lyonnais welcomes today's decision by the DNCG to keep the club in Ligue 1,' Lyon said in a statement . '(Lyon) thanks the appeals committee for recognizing the ambition of the club's new management, (which is) determined to ensure serious management in the future.' Last Wednesday, American businesswoman Michele Kang took over as president after John Textor resigned following the club's relegation. Lyon added that Textor has also resigned from the board of directors. He became Lyon president three years ago , taking over from longstanding incumbent Jean-Michel Aulas, who sold to Textor's Eagle Football Holdings. The 66-year-old Kang is supported in her role by Michael Gerlinger, the general manager of Eagle Football Holdings. 'The new management, supported by the commitment and dedication of our shareholders and lenders, is extremely grateful for all the support received both within and outside the club,' Lyon added. 'Today's decision is the first step in restoring confidence in Olympique Lyonnais. We can now focus our attention on our sporting objectives, fully preparing for next season.' Wednesday's verdict also ensures Lyon plays in the Europa League next season after qualifying with a sixth-placed finish in Ligue 1 last season. ___ AP soccer:
France 24
09-07-2025
- Business
- France 24
French club Olympique Lyonnais to stay in Ligue 1 after winning appeal
Olympique Lyonnais ' relegation to Ligue 2 was overturned by the French football federation (FFF) on Wednesday after an appeal by the club. The FFF has imposed a framework for the wage bill and transfer fees in the club's proposed 2025/2026 Ligue 1 budget. "Olympique Lyonnais welcomes today's decision by the DNCG to keep the club in Ligue 1," Lyon said in a statement. "Olympique Lyonnais would like to thank the Appeals Committee for recognising the ambition of the club's new management team, which is determined to ensure that the club is managed seriously in the future." Lyon were demoted by French football's financial watchdog (DNCG) in November due to the poor state of their finances. The decision was confirmed in June after a meeting between US businessman and club owner John Textor and the DNCG. Women's football mogul Michele Kang, who owns Lyon 's women's team OL Lyonnes, has been appointed president of Olympique Lyonnais, replacing Textor.
