Lyon have tonight announced that American billionaire Michele Kang is now the majority shareholder of the women’s team.
Specifically, Kang and OL Groupe have signed an agreement by which a new entity will be created, aimed at setting up the first multi-club model in women’s football.
OL Groupe will bring the women’s team as well as its facilities to the table, while Kang – via YMK holdings – will carry over the Washington Spirit, the team she owns in the USA, to the new entity. The statement indicates that the intention will be to add new clubs from around the world to the structure. Kang will also join the OL Groupe board as part of the agreement.
The statement indicates that “each club will maintain its own established identity, in respect towards its heritage and community of supporters”. Lyon add that the agreement is subject to approval from the National Women’s Soccer League, while proceedings are underway for the sale of NSWL club OL Reign to avoid any conflict of interest.
L’Équipe had revealed back in April that John Textor – the majority shareholder of OL Groupe, who in the meantime also became Lyon club president – that an agreement had been reached earlier in the year with Kang, his friend and neighbour in Palm Beach, Florida.
GFFN | Raphaël Jucobin
