Michele Kang assumes controlling stake in Lyon and ends Eagle’s ties with John Textor and Botafogo
Businesswoman Michele Kang completed the full acquisition of controlling interest in Lyon, becoming the sole holder of shares in the French club. The current president of the team, who took office in June of the previous year, committed to bearing the financial liabilities of John Textor’s former holding company, Eagle Football Group SA, and will make a contribution of up to 75 million euros (equivalent to around R$443 million, according to the current exchange rate).
The negotiation was mediated by the judicial administrator Cork Gully, in a process that followed the removal of John Textor from the management of the conglomerate in March this year, a decision imposed by the English courts. This measure aimed to stabilize the management and finances of the sports group.
This transaction establishes that the businesswoman pays off Eagle Bidco’s debts, in addition to making an initial investment of 31 million euros (approximately R$183 million) at the time of completing the purchase.
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The French club’s biggest creditors, in turn, demonstrated support for the new administration by providing credit lines with advantageous conditions for the next 18 months.
“With a deep sense of responsibility and immense honor, I assume the leadership of Olympique Lyonnais. The progress achieved in the last year is remarkable, and we have reestablished everyone’s trust. We will persist in our efforts to position our club among the protagonists of European football in all areas”, declared Michele Kang.
The finalization of this agreement depends on the guarantee that the club will remain with its approved management in Ligue 1, in addition to awaiting validation from the National Management Control Directorate (DNCG), which will conduct an interview with Michele Kang in the coming days for analysis.
If the transaction is confirmed, Lyon will definitively separate itself from the Eagle group and return to its original name, “OL Groupe”. Michele Kang will continue to serve as president of the club, and Michael Gerlinger will remain as CEO, consolidating the new management structure and reinforcing the team’s historical identity.
