French club Lyon have been demoted to Ligue 2 because of the poor state of their finances. The club were provisionally demoted by the DNGC, the body which oversees the accounts of French professional football clubs, in November. Lyon officials including owner John Textor, met with the DNGC on Tuesday but failed to convince the body that the club had sufficiently improved their financial situation to lift the punishment. Last October, his Eagle Football Group announced debts of £422m. Seven-time French champions Lyon raised around £45m with the sales of Maxence Caqueret to Como in January and Rayan Cherki to Manchester City in June in an attempt to improve their finances. High earners such as Alexandre Lacazette and Anthony Lopes have also been released. Lyon have the right to appeal against the decision. Should it stand, Lyon will be replaced in the top flight by Reims, who were beaten in the relegation play-off by Metz. More to follow.
Did they make the mistake of trying to compete with PSG? Perhaps the DNGC should consider that situation
Owned by the Palace fella who looks dodgy as can be. This is creating shockwaves in France but the authorities don't muck about like our lot do. Lyon will have to shed loads of players, there's a L2 wage cap that few of their players will be under.
Anyone who gets a club, or a company running multiple football clubs, in that much debt shouldn't be allowed anywhere near another one. Should be an instant fail on the fit and proper test that is meant to be carried out.
Think he's another Ellis. Very wealthy,knows there's money to be made in English football,but doesn't understand the business.
Which is why we should be very grateful that we have KLD in charge. I might be wrong but I think he might know a thing or two about running a football club sustainably and how to avoid the issues currently plaguing other clubs.
Spot on! KLD has the love of football from his father's time at Marseilles,has spent time in the north of England during his formative years and understands the passion fans have for their club. Seeing our potential,has surrounded himself with top quality advisors,together with very shrewd appointments into management positions.I couldn't be happier with where my club is right now.
And unlike Short or Donald he doesn't want to be in the spotlight buying pints and thumping tubs ... ... very impressed with him at Wembley.
Yep,Sartori was shaking the Champers,but KLD,although wonderfully happy, always seeming to stay in control. Great signs for us!
KLD seems to regard promotion as a stepping stone, not an achievement … … this is the best position I’ve seen us in over fifty years.
We have an owner that hasn't promised the world, He believes we can be succesful and wants to to achieve that in the right way. why I can see us surprising a few teams this year
Couldn't agree more mate....in my case,over 60 years! as much as I'm delighted with off-field developments,this club is all about what happens on the pitch,always has been,and I know we will make some mistakes in our recruitment and player management along the way...have done already...but, I have complete confidence in our ownership and management team to continue to get things right to progress our club. Really excited for next season.
