John Textor Steps Back from Olympique Lyon
Following Olympique Lyon’s relegation to Ligue 2, American entrepreneur John Textor has decided to step back from his daily responsibilities at the French football club. This shift in leadership comes after a definitive ruling from France’s financial regulatory body, the DNCG, which confirmed Lyon’s demotion this week. Textor, who acquired the club through his investment group, Eagle Football Group, made the announcement during an interview with Brazil’s TV Globo just before his Brazilian team, Botafogo, faced off against Palmeiras in the Club World Cup.
Challenges and Optimism
Textor acknowledged that he could have navigated the complexities of French football politics more effectively and expressed the challenges he faces as an American businessman in this environment.
“I’m clearly much more adept on the pitch than I am in the political landscape of France. This adjustment is necessary for me as an American capitalist,”
he remarked.
The club’s relegation was initially announced on a provisional basis in November due to financial irregularities, but it was officially confirmed by the DNCG this week. Despite the setback, Textor remains optimistic about Lyon’s financial situation, stating,
“We’ve never been more liquid in cash”
and emphasizing the club’s strong financial foundation while vowing to appeal the DNCG’s decision.
Future Plans and Broader Initiatives
He noted recent successes for Lyon, including consecutive qualifications for the Europa League, highlighting a silver lining amid the current turmoil. Textor also pledged to spend more time focusing on broader initiatives within Eagle Football Group, which includes a renewed emphasis on Botafogo after the recent sale of his stake in English club Crystal Palace earlier this week. He indicated that there are strong partners within the Eagle Football Group who would take a lead on managing Lyon’s issues, responsibilities that he felt he had struggled with.
Looking ahead, Textor hinted at plans for a potential investment in the UK market, considering the acquisition of a new club to establish a partnership strategy similar to what has benefited him in his other ventures. He stated,
“We have our U.K. strategy. We need to determine what our next acquisition will be there and how to collaborate with these clubs effectively.”
As Textor prepares to make a strategic retreat from the day-to-day operations at Lyon, the club’s supporters will be watching closely for his next steps in restoring the team’s fortunes.
