French football club Lyon faces a dire financial situation that could see them relegated to Ligue 2 at the end of the season if their finances are not brought under control. The club has also been barred from signing players during the January transfer window, further complicating their situation.
The decision was made by the DNGC, the French body responsible for monitoring the financial health of professional football clubs, following a review of Lyon’s accounts on Friday. Additionally, the club’s payroll will now be closely supervised by the DNGC.
Lyon’s financial troubles are linked to significant debts of £422 million, recently disclosed by the Eagle Football Group, which owns the club. John Textor, the owner of Lyon, is also a co-owner of Premier League side Crystal Palace and the majority shareholder of Brazilian club Botafogo.
To comply with financial regulations and avoid relegation, Lyon may need to offload several key players during the January transfer window to stabilize their accounts. Reports suggest that Textor might consider selling his stake in Crystal Palace or transferring Botafogo players to help reduce the mounting debt.
Lyon, a seven-time French champion, is currently fifth in Ligue 1 and ninth in their Europa League group. The club’s precarious financial standing now casts a shadow over their on-pitch ambitions as they fight to maintain their position in France’s top football division.
SOURCE: BBC
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