L’Équipe report this afternoon that American businesswoman Michele Kang is set to acquire a majority stake in Lyon’s Women’s team, in a transaction that will reportedly go through on June 30.
An agreement was reached several weeks ago between John Textor and Kang, via the former’s investment vehicle Eagle Football – the majority shareholder of the overall parent company OL Groupe as of December of last year. The two investors, L’Équipe add, are friends and neighbours in Palm Beach in Florida.
Kang, who is the founder and CEO of health information technology company Cognosante, and since last year has held a majority stake in National Women’s Soccer League team Washington Spirit. Reportedly, she pledged to cover OL Féminin’s annual deficit of €12m, while a new organisation will be founded around her shares – 52% – and those that will remain in Lyon’s ownership. The sale is set to be made official in the coming days, while the Lyon players themselves were made aware of the sale by Director of Football Activities Vincent Ponsot on Monday.
GFFN | Raphaël Jucobin
