John Textor (foto: Getty Images)
Lyon owner John Textor reassures fans that the club will avoid relegation from Ligue 1, citing plans to stabilize finances and a potential IPO on the New York Stock Exchange.
John Textor, the American owner of Olympique Lyonnais, has firmly ruled out the possibility of the club being relegated from Ligue 1 due to financial issues. Textor’s comments came after the DNCG (National Directorate of Control and Management) warned on Friday (15th) that Lyon could face relegation if their financial situation does not improve by the end of the season.
"Our club will not be relegated. If we don’t meet our financial targets by the end of the season, there’s a possibility of relegation… but that’s not going to happen," Textor stated during a press conference.
As the head of Eagle Football, which also controls Botafogo in Brazil, Textor hinted that player sales from the Brazilian club could help stabilize Lyon’s finances. He remains confident in Lyon’s ability to resolve their issues and highlighted steps already being taken to avoid sanctions.
"There’s no chance we’ll be relegated. By the end of the season, we’ll have saved more than €50 million on our wage bill. The auditors and the DNCG didn’t consider the potential sale of Crystal Palace or the IPO (initial public offering) on the New York Stock Exchange," Textor explained.
The Lyon owner revealed that four major investment banks have already joined efforts to prepare for the IPO, which would bring in global investors from the United States and beyond.
Textor’s reassurances come amid growing concerns about Lyon’s financial state, with the club currently struggling to manage a reported €500 million debt. While on-pitch results have been steady this season, the DNCG’s warning adds pressure for the club to meet its financial obligations.