There are around 508,000,000 reasons for Ligue 1 giants Lyon to crumble
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Reading Time: 1min | Sat. 16.11.24. | 12:46
One of the most decorated French clubs is on the verge of relegation and a transfer ban due to their enormous debts
What a punch in the face for the Ligue 1 giants! Olympique Lyon have been handed a severe sanction by the DNCG - the French football financial watchdog. They have decided to hit Lyon with a provisional Ligue 2 relegation as well as a transfer ban and the supervision of their wages.
This comes as a punishment for the club's enormous debt which reportedly rose from €458 million to €508 million.
Lyon are in danger of suffering relegation, per @AndiOnrubia.
— Zach Lowy (@ZachLowy) November 13, 2024
OL has accumulated €500m in debts and must pay €100m in order to not be provisionally relegated to Ligue 2. pic.twitter.com/LyztexIKkP
Lyon's owner, American businessman John Textor, came out yesterday after the meeting with the DNCG quite confident.
"The meeting went well," said Textor, who is also co-owner of Crystal Palace, and the largest shareholder of Brazilian club Botafogo.
However, it turned out that the DNCG will not turn a blind eye to Lyon's debts, which the club recently presented to the public.
As it stands, Lyon will be relegated to Ligue 2 if their financial situation does not improve dramatically. Les Gones might be forced to sell their prized assets, including France U21 international attacking midfielder Rayan Cherki, 21, and Belgian international winger Malick Fofana, 19, in the upcoming transfer window.
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