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Football: the takeover of OL by Textor is still going into extra time


A true Arlesian, the takeover of OL is still not complete. But confidence would still be in order according to a press release published this day.

“Progress towards a finalization” but a signature still awaited with the hope of seeing the file succeed “quickly”.

OL Groupe had given John Textor two more days on Monday to complete the takeover, via the Eagle Football holding company, of the Ligue 1 club and the group, valued at 800 million euros, referring to “a final deadline”.

But in a press release published this Thursday morning, OL Groupe indicated that Mr. Textor was "confident" in the fact that the agreements remaining to be obtained and finalized will be "obtained and signed in the short term".

"Under these conditions, the sellers and the company considered that, in view of the progress made, there was a sufficient probability that a 'closing' would take place quickly", declared OL Groupe, which specified that it would communicate "as soon as the date of “closing” will have been stopped”.

The sale, initially scheduled for the end of September, has since been postponed several times, notably pending the green light from the English Premier League for the financial package planned by John Textor via the Eagle Football holding company.

The American assured OL Groupe that “Eagle Football, as of November 17, had obtained all the financing necessary for the operation and signed firm agreements” with investors.

He also said he was "confident to have the agreement in principle of all the parties to proceed with the contribution in kind to Eagle Football of the various participations in football clubs in the United Kingdom, Brazil and Belgium". , according to remarks reported in the press release.

Eagle Football, the holding company bringing together John Textor and the Canadian businessman Jamie Salter, undertook at the end of June to acquire all the shares and half of the Osranes (bonds convertible into shares issued to finance the construction of Groupama Stadium) held by Holnest, the holding company of the family of Jean-Michel Aulas (27.7% of the capital).

Plus all the shares held by Pathé (19.3%) and the Chinese investment fund IDG Capitals (19.8%).

The quotation of the OL Groupe share, suspended since mid-November, resumed on Tuesday, the day after the "final" postponement granted: the market had expressed its skepticism and the share lost more than 20% of its value in two days, appearing at 2.18 euros on Wednesday evening, far from the price of 3 euros per share promised for the buyout.

Thursday's press release gave hope: the action regained color at the opening of the stock market (+19.27%) at 2.60 euros around 9:15 a.m.

John Textor again stressed to OL Groupe that he is with Eagle Football "more than ever enthusiastic about the prospect of fully investing in the development of Olympique Lyonnais, under the impetus of its president Jean-Michel Aulas and his crew ".

This sale, which takes on the air of Arles, would represent a historic turning point for the Ligue 1 club, chaired for 35 years by Jean-Michel Aulas, even if the latter must keep his position as president for "at least three years", according to the expected agreement.

After a slack linked to the Covid pandemic, which led to the closure of the stands, and the bankruptcy of the former broadcaster Mediapro in 2020, the club is in full financial recovery.

Over the 2021-2022 financial year, its turnover jumped by 42%, to 252.6 million euros, and its net loss was halved compared to the previous season (-55 million, against - 107.5 million).

And its results are still on the rise from July to the end of September: its turnover has increased by 30% (with in particular a 45% increase in its ticketing revenue).

Source: leparis

All sports articles on 2022-12-08

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