November 16, (THEWILL) – French football authority DNCG has imposed strict financial restrictions on Olympique Lyonnais, blocking the club from making any transfers during the January 2024 window.
The ruling body announced additional measures, including potential relegation from Ligue 1 if the club fails to address its financial management concerns.
The severity of the sanctions reflects mounting scrutiny over Lyon’s financial operations under John Textor’s Eagle Football Group ownership.
Currently positioned fifth in Ligue 1, Lyon must now operate under direct DNCG payroll supervision while working to meet stringent financial requirements.
Textor, whose portfolio includes stakes in Botafogo, RWD Molenbeek, and Crystal Palace, defended the club’s position, “You shouldn’t just look at Olympique Lyonnais, but the fact that we are a group that owns several clubs. I’m confident in our figures and the good news is that the DNCG is independent, they are very intelligent people, accountants, financiers who can look at the figures.”
The financial constraints follow Lyon’s substantial summer transfer expenditure of approximately €145 million. Earlier reports from L’Equipe suggested the club needed to generate €75m through player sales to balance their accounts, though Textor denied these claims at the time.
Textor maintains an optimistic outlook, stating, “We’re going to generate several million dollars in cash over the next few months, and we’re in it for the long haul.”
The club must now demonstrate concrete financial improvements to satisfy DNCG requirements and maintain its Ligue 1 status beyond the 2024/2025 calendar.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
