The Limited Times

Now you can see non-English news...

OL: American John Textor is officially the new owner of Lyon

2022-12-19T17:40:55.350Z


Postponed several times, the takeover of the Lyon club by the American businessman is effective. He is finally the new boss of Olympique Lyonnais. Businessman John Textor officially became the majority shareholder of OL Groupe on Monday, which makes him the boss of the Rhone club. The American now owns, through his company, 77.49% of the capital of the listed company. "The completion of the operations with Eagle Football has now taken place," said the press release published after the close o


He is finally the new boss of Olympique Lyonnais.

Businessman John Textor officially became the majority shareholder of OL Groupe on Monday, which makes him the boss of the Rhone club.

The American now owns, through his company, 77.49% of the capital of the listed company.

"The completion of the operations with Eagle Football has now taken place," said the press release published after the close of the Paris stock exchange, after six months of negotiations punctuated by several postponements.

"A new story begins today," says the American investor quoted in this press release.

Today represents a new beginning for Olympique Lyonnais [....], we are proud to reach this exceptional agreement”, continues Textor.

Jean-Michel Aulas remains president

As agreed, Jean Michel Aulas, 73 and boss of the club since 1987, “will keep the operational presidency of Olympique Lyonnais for at least three years and will remain surrounded by his team”, he specifies.

This agreement "will be a landmark in the history of the development of European football, but also internationally thanks to the grouping together within the same structure, Eagle Football, of our interests in football clubs rich in their culture and their experience acquired over the decades: Olympique Lyonnais, Crystal Palace, Botafogo and RWD Molenbeek", continues the American investor.

Eagle Football had undertaken at the end of June to acquire all the shares and half of the Osranes (Editor's note: bonds convertible into shares issued to finance the construction of Groupama Stadium) held by Holnest, the Aulas family holding company.

Plus all the shares held by Pathé and the Chinese investment fund IDG Capitals, two shareholders who announced their intention to sell in March.

A capital increase of 86 million euros to revive the club

Eagle Groupe has also planned to subscribe to a capital increase of 86 million euros which should allow OL Groupe to repay loans in an accelerated manner and to strengthen the team in order to try to find the European elite.

Eighth in Ligue 1, Lyon changed coach in October, replacing Dutchman Peter Bosz with former Blues coach Laurent Blanc.

And, as expected, "Eagle Football will file as soon as possible (...) a simplified tender offer, in cash, for the shares and Osranes that it does not own at a price of three euros per share and 265, 57 euros per Osrane “, further specifies the press release.

The composition of the company's Board of Directors has evolved to reflect this change in ownership,” according to OLG's text.

John Textor does not detail in this press release the names of the “respected and experienced” investors who have “made substantial commitments” to join his “ambitious project”.

Source: leparis

All sports articles on 2022-12-19

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.