Lyon, a French club that belongs to American businessman John Texor, was relegated to the second division of France. The decision was made on Tuesday by the National Directorate of Control and Management (DNCG) of the French Professional Football League (LFP), which organizes the French Championship.
The drop to Second has been taken by DNCG for serious financial reasons faced by Lyon in recent seasons. In his assessment, the sports agency decided that the club will not be able to fulfill its financial obligations next European season, which begins in August.
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The relegation was announced in November last year. But the decision needed to be endorsed by the DNCG, who heard Lyon’s arguments. The club was represented by Textor himself, owner of Botafogo’s SAF, and soccer director Mickael Gerlinger, according to the French newspaper L’Epection.
Lyon’s management may still appeal the decision. Before Tuesday’s audience, Texor showed confidence in an interview with the French newspaper. “We have made a series of investments in recent weeks,” said the American businessman. Lyon’s estimated debt is 175 million euros, about $ 1.1 billion.
