Football club Olympique Lyonnais has been officially relegated to France's Ligue 2 due to financial problems, including debt.
According to the newspaper Le Figaro, the decision was made by the financial supervisory body of French football, the National Direction for Control over Management (DNCG).
Olympique Lyon relegated to Ligue 2
At a hearing on Tuesday, Olympique Lyonnais management failed to persuade French football's financial watchdog to lift the restrictive measures introduced in November. However, they failed to achieve success.
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“We've made a number of investments in recent weeks. Financially, everything is in good shape,” said the club's owner, American John Textor, who is also the head of Eagle Football Holding.
The sanctions are related to the club's financial problems, in particular debts. Le Progrès wrote that Textora reported for the 2023/24 financial year that Lyon's debts had grown from €458 million to €508 million.
Le Figaro points out that in addition to the plan to “voluntarily lay off around a hundred employees,” the club has also cut players’ wages. In particular, Alexandre Lacazette and Anthony Lopez, who had substantial contracts, have left Lyon.
Lyon wanted to cover their debts by qualifying for the Champions League, but the team finished in sixth place, which gives them the right to play in the Europa League.
Olympique Lyonnais can still appeal this decision, but if they fail, their place will be taken by Reims, who lost to Metz in a two-legged tie in the playoff for a place in L1/L2.
