His speech was expected. And John Textor made his people wait. On Saturday morning, November 16, the American postponed his press conference for a long time before appearing before journalists to return to the Olympique Lyonnais news. It is not about the good sporting dynamics of the club he owns (fifth in Ligue 1, after a streak of six games without losing in the League), but about its financial problems.
The day before, the National Management Control Directorate (DNCG) had decided to control the club’s payroll and prohibit hiring during the winter transfer market, due to its debt. Above all, the financial policeman had ordered his “Conservative demotion at the end of the current sports season”as specified in a press release. These are accounts in the red, which at the beginning of November recorded a financial debt of around 505 million euros.
Is there then a risk of seeing the seven-time French champion in Ligue 2 next season? “We will not be relegated. Our shareholders have funds. Nobody will allow the club to be relegated. “We are very optimistic” -John Textor insisted, wanting to reassure: there will soon be in the boxes “Much more money than necessary for what OL needs. »
Whoever bought the Rhône club from Jean-Michel Aulas in 2022 estimated that the DNCG did not sufficiently take into account that OL is part of a group of clubs, Eagle Football Holdings, along with the Brazilian team Botafogo and the Belgian Molenbeek. “At the DNCG there are intelligent people but they work in a system and do not want to look at what we are doing on a global scale. The DNCG must digest many figures in a very short time. And although they are experts in their field, they are not experts in the New York Stock Exchange., justified the 59-year-old businessman. “Having the DNCG tell me how to run my business seems uncomfortable to me. »
“People will try to exploit this news”
Textor assures that the parent clubs can help each other, providing strength to the group, and that he is preparing to sell his shares (45%) in Crystal Palace, a London club that plays in the first division of England. Especially since it also provides savings directly to OL, by focusing on total payroll. “We have 29 players in the first team. Ideally there would be 23 or 24 players. There are six more players. »
“There is no chance for us to fail, on any level” criticized the American, who sees too many possible sources of money for the club not to cover its deficit “around 100 million euros”. The sale of players with high market value could be another way to replenish the coffers, but weakening the team too much risks jeopardizing the goal of qualifying for the Champions League, synonymous with another possible influx of money.
But it’s hard to do business when you have a knife at your throat. Aware of Olympique Lyonnais’ financial difficulties, other clubs could be tempted to offer discounted deals for their best players, young attackers Rayan Cherki and Malick Fofana, for example. “Yes, people will try to exploit this news. If clubs don’t want to buy our players at the right price, we simply won’t sell to them. “Some conversations about players have started with lower figures, but we will sell the players at the right price.” Textor commented.
The fact is, OL is heading into the unknown, due, at the very least, to John Textor’s vague financial arrangements. Especially since the American and his Eagle holding company must be accountable to the investment fund Ares Management, which could recover the club if by chance John Textor could not pay his debts. A scenario that evokes that of AC Milan from a few years ago: “The American investment fund has regained control after the Chinese owner’s defaults,” recalled the sports economist Luc Arrondel, in The Parisian. A few months after the bankruptcy declaration of Girondins de Bordeaux (by another financier, Gérard López) and its relegation to National 2 (fourth national category), another monument of French football is in danger.
