John Textor given further extension to complete Lyon takeover

Another deadline has come and gone for John Textor to complete his purchase of Olympique Lyonnais. Whilst Textor’s Eagle Football Holdings have yet to complete the deal before Wednesday, which Lyon described as the final deadline, another extension has been granted, this time without a deadline. 

On Sunday, Textor was given the ultimatum of either completing the deal or pulling out by Wednesday. Neither happened. However, Lyon are confident that the deal can be closed quickly, as they stated in a press release, and have therefore scrapped their previous ultimatum. 

Based on declarations and strong assurances from Eagle Football and Mr. John Textor, the sellers of the company have considered that in light of the progress made, there was a significant probability that a closing may quickly happen,” said Lyon in a press release. 

Textor’s reasoning for not yet completing the deal to purchase Lyon, despite attending a press conference with Jean-Michel Aulas and posing with a Lyon shirt five months ago, is that he is awaiting the authorisation of the Premier League. It is Get French Football News’ understanding that the English footballing body is not holding up the deal. 

GFFN | Luke Entwistle

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