John Textor’s Lyon takeover still not finalised

L’Équipe report this morning that American businessman John Textor’s takeover of Lyon has still not been finalised, with the suspension of OL Groupe’s stock valuation on Wednesday given the parties extra time to get a deal over the line.

The sale of a majority share to Textor, a minority stakeholder in Premier League side Crystal Palace and owner of Brazil’s Botafogo, had originally been set for September 30 before being pushed back. 

Textor had launched into exclusive negotiations at the end of June to buy the shares held by Pathé (19.26%) and IDG (19,74%) on top of the majority of those held by the Aulas family’s Holnest, which currently holds 27.56% in total. 

As had previously been the case when the bid was first delayed, background checks over the funds and investors backing Textor’s Eagle Group in the operation, which have to be approved by Lyon’s creditors, appears to be dragging out.

The investor had explained on Friday evening that the sale would take place as quickly as possible, and that the delays were normal for the acquisition of sports clubs.


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