Featured Image Credit: Getty
Topics: Lyon, Ligue 1, Football, Crystal Palace
Luke Davies
John Textor's Lyon have released a statement after it was confirmed that seven-time French champions have been demoted to Ligue 2 due to poor finances.
Lyon were provisionally demoted to Ligue 2 back in November and were given until the end of the 2024/25 campaign to improve their financial state.
On Tuesday (June 24), their relegation was confirmed by the Direction Nationale du Contrôle de Gestion (DNCG) despite owner Textor having met with the body to convince them that the situation had improved.
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In October 2024, Textor’s Eagle Football Group, which owns around 77% Lyon, announced debts of £422m.
Lyon released a statement and are said to be baffled by the ruling.
"Olympique Lyonnais acknowledges the incomprehensible decision rendered by the DNCG tonight and confirms that it will immediately file an appeal,” Lyon said in a statement.
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“In recent months, we have worked closely with the DNCG, satisfying all of its requests with cash equity investments exceeding the amounts requested. Thanks to the equity contributions of our shareholders and the sale of "Crystal Palace, our cash position has improved significantly, and we have more than sufficient resources for the 2025/26 season.
“With so much cash liquidity demonstrated, and sporting success which has earned European competition in two consecutive years, we sincerely do not understand how one administrative decision could relegate such a great French club. Through our appeal, we will establish our substantial cash resources as necessary for Olympique Lyonnais to keep its place in Ligue 1.”
According to BBC Sport, Lyon intends to appeal the decision. And the ruling may also impact Crystal Palace.
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Textor recently sold his 43 per cent stake in the club to the New York Jets owner, Woody Johnson. It is unclear if Lyon will also be banned from Europe.
BBC Sport reports that Palace may now have to wait even longer to learn their fate regarding their participation in European competition in 2025/26.
High-earner Alexandre Lacazette may have to be sold at a cut price to balance the books. Midfielder Coretin Tolisso, winger Malick Fofana, Moussa Niakhaté, Ainsley Maitland-Niles, Lucas Perri and Duje Caleta-Car may all be forced to move on.
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Said Benrahma, Anthony Lopes and Maxence Caqueret were all sold in January after the provisional ruling.