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US businessman John Textor completes Lyon takeover
Business and Economy

US businessman John Textor completes Lyon takeover

by  AFP 2 min read
Lyon president Jean-Michel Aulas (R) and US businessman John Textor (L)
Lyon president Jean-Michel Aulas (R) and US businessman John Textor (L). Photo: OLIVIER CHASSIGNOLE / AFP
Source: AFP

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Lyon president Jean-Michel Aulas said on Tuesday a deal had been struck for US businessman John Textor to complete a takeover of the seven-time French champions.

Eagle Football Holdings, a sports investment vehicle controlled by Crystal Palace shareholder Textor, is set to acquire a majority stake in the Ligue 1 club.

"We agreed, we shook hands overnight via video and at 3 a.m. Monday everything was signed," said Aulas, adding that the board of directors had approved the deal.

The agreement will see Textor buy out minority shareholders Pathe and IDG Capital -- who hold 19.36 percent and 19.85 percent stakes respectively -- and a gradual sale of Holnest, the family holding company of Aulas, which holds 27.72 percent of the capital.

Aulas said he would continue as club president for "at least three years".

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"John wanted me to stay... it wasn't an obligation but a wish of the fans" and of all those involved in the club, he said.

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"OL... has stretched its wings beyond the borders, it has got a brand known everywhere, it is the 20th club in the world, so why would I show up and want to change any of that," Textor told reporters.

"I believe in dreaming with your eyes wide open. Jean-Michel and I really want championship titles and winning Europe."

Textor also owns Brazilian top-flight club Botafogo and Belgian second-division side RWD Molenbeek.

Lyon missed out on European competition for the second time in three seasons after finishing the 2021-22 campaign in eighth place under Peter Bosz.

Source: AFP

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