The LFP has confirmed in an official statement that Lyon has been demoted to Ligue 2 after a meeting with the DNCG. During their most recent meeting with the French football financial body, Les Gones were given a provisional relegation, meaning that they would be demoted to the French second division if their financial status didn’t improve.
In an attempt to persuade the DNCG that the financial situation had significantly improved, Eagle Football Group, the consortium that owns OL, has sold John Textor’s shares in Crystal Palace and Lyon’s women’s team, among other financial instruments. This hasn’t met the necessary requirements, though.
Even though Textor, the owner of OL, seemed optimistic about the possible outcome after the meeting, this development still takes place. He told the media that he was pleased with the meeting and that the Rhône club’s financial status had improved. “You can see from the contributions of our shareholders that we have invested new capital, not only for the DNCG but also for our UEFA licensing process,” Textor told reporters. In addition to the positive news of Crystal Palace’s sale. Our liquidity condition has significantly improved. As a result, Lyon will have to play football in the second division the following season.
Les Gones’ subpar financial management has led to their relegation. According to Get French Football News, the Rhône team is getting ready to release a statement outlining their plan to challenge the ruling.