American businessman John Textor bought French club Olympique Lyonnais on Monday, OL Groupe (the holding company that owns the group) and Eagle Football (the company that made the purchase) said, Le Figaro reported.

John Textor bought Olympique Lyon / Jean-Michel Aulas remains president

Eagle Football now owns 77.49% of OL Groupe. The entire deal was valued at approximately €884 million.

“Today is a new beginning for Lyon.” After four months of constructive negotiations, we are proud to have reached this exceptional agreement. The implementation of this ambitious project requires significant investments.

Thanks to Jean-Michel Olas, who will remain at the club. I discovered in Lyon a great city and great fans who want their team to perform at the highest level. The fans and the history of this club are strong roots and I believe that we will have a bright future” – John Textor.

The American billionaire is already present in the capital of the London club Crystal Palace and is the majority shareholder of the teams Botafogo (Brazil) and RWD Molenbeek (Belgium).

Olympique Lyon, heavily affected by Covid-19

The success of the operation is vital for the club, which is trying to recover from the Covid-19 period and as a result has a debt (331 million euros) in addition to significant losses (-55 million euros for the 2021 financial year). /2022).

Debt refinancing, its partial repayment (€50 million), as well as a capital increase of €86 million, planned by Eagle Football, should ensure, at least in the short term, the financial health of the club, writes News.ro.

Olympique Lyonnais are currently 8th in Ligue 1 with just 6 wins from 15 matches. In the group prepared by Laurent Blanc, the next match is with “Brest” (December 28, away).