Lyon Relegated To Ligue 2 Over €500m Debt

Ligue 1 giants Olympique Lyon have been relegated to the Ligue 2 over €500m following a meeting with the French football financial body, DCNG.

The club was handed a provisional relegation during the last meeting with the DCNG on the basis that if their financial situation didn’t improve, they would be relegated to the French second tier.

Eagle Football Group, the consortium which owns the club pulled off several levers to convince DCNG that their financial health had improved, including the sale of John Textor’s stake in Crystal Palace and Lyon’s women’s team.

However, it was unable to meet up with the requirements.

Last year, Lyon reported debts of around €500 million (£418m).

Lyon are expected to appeal the decision, if the decision is upheld the Ligue 1 giants will be forced to play in the Ligue 2 next season.

Lyon has won the Ligue 1 title seven times, which ranks sixth in French football history.

The club has also been crowned champions of Ligue 2 three times, won five Coupe de France titles, one Coupe de la Ligue title, and eight Trophée des Champions.

Lyon Relegated To Ligue 2 Over €500m Debt is first published on The Whistler Newspaper