John Textor in exclusive negotiations for majority stake in Lyon

Lyon have tonight announced that American business John Textor has entered into exclusive negotiations, with his Eagle Football Holdings set to become the majority stakeholder at the club.

Textor, who owns Brazilian side Botafogo as well as Belgium’s RWD Molenbeek through his Eagle Football Holdings, will buy out the shares of Pathé and IDG, who had roughly a 40% stake in the club between them, as well as those of Aulas’ family holding. Overall, he will have a 66.5% stake in the club, which could eventually rise to 88.55%.

He has beaten out Foster Gillett’s bid, which according to RMC Sport did not have the necessary finances, while a press conference is set to be held on Tuesday. The club’s board of directors approved the sale protocol this afternoon.

Jean-Michel Aulas will remain the president of the club for at least another three years, having been at the helm since he became owner in 1987. In addition, the OL Group, the holding by which Aulas has run the club until now, will gain €86m in capital, pending the approval of an extraordinary general assembly of all of the stakeholders.

Holnest will nevertheless retain 2 seats on the club’s board of directors, along with four observers with no voting rights for at least three years, along with Aulas’ continued stay.

GFFN

More European Football News