Final decision on John Textor’s Lyon takeover to come Sunday night

As reported by L’Équipe this afternoon, the shareholders of Lyon have announced that a final decision will be made on the prospective takeover of the club by American investor John Textor’s Eagle Football on Sunday night.

With the Crystal Palace shareholder’s takeover having been delayed multiple times, all of OL Groupe, Pathé, and IDG Capital, whose shares added together will make Textor the majority stakeholder, will decide whether to go ahead with the operation.

Lyon say that Textor has indicated to the sellers that he has secured the entirety of the financing needed to go ahead with the move, with the hold-up now being on the part of the Premier League authorities.

The American entered into exclusive negotiations and the end of June to buy the stakes of Pathé (19.26%) and IDG (19,74%) as well as the majority of those held by Holnest, of the Aulas family, which currently has 27.56% in total. He was given a September 30 deadline, although this was only indicative.

Textor had been searching for financial partners following the withdrawal of Bill Foley, whose investment was pushed back by Lyon’s creditors – 13 of which hold the club’s €330m debt. He has now also passed a hearing with the DNCG, French football’s financial watchdog.

GFFN | Raphaël Jucobin

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