Eagle Football Group / Textor in Administration

[Linford]

As I understand it, plot thickens with the Textor/Eagle Football Group saga and very much for the worse for Lyon who have defaulted on their obligations and despite being in Ligue 1 qualifying spot for Champions League are likely to be kicked out of Europe next season with all their squad up for sale. They may even face not being able to carry on playing/trading at all !

The ghost of Textor. Botafogo given $25m debt repayment deadline, Lyon battle to stay alive - Inside World Football

May 13 – Brazilian club Botafogo must pay $25 million to Atlanta United within 90 days to avoid a six-point deduction in the Brasileirão. On Monday, the Rio club were handed another transfer ban for the outstanding debt over Thiago Almada’s transfer to the MLS franchise. Botafogo paid $10...

www.insideworldfootball.com

How did this chancer get his hands on reins of our club? And boy am i glad he rode off on his horse into the sunset to play cowboy with someone else's going concern.

In terms of the “how”, there’s really not much stopping people doing this for the most part.

“Fair and proper” checks are a farce.

 

[chris123]

In terms of the “how”, there’s really not much stopping people doing this for the most part.

“Fair and proper” checks are a farce.

It was the French football governance body the DNCG that was tasked with reviewing Lyons finances last year. That review was what led to UEFA chucking Lyon out, Lyon were reinstated after an appeal. So I would be interested to know what the French are doing too

 

[Joseph Paxton]

I read into this that the collapse of Textor's multi-club structure would have seriously affected us too - was there a possibilty we would have been sanctioned ? Praise be that Woody Johnson has come in and we get further along the road to being a 'well-run club'.

Further do we have any retrospective legal claim against Lyon/Uefa for allowing a club in a state of breach of sanctions to replace us in the Europa? Was there misrepresentation at the Tribunal?

Article i previously linked contains the following intriguing paragraph

The administrators have also discovered a few ‘bodies in the closet’ in the form of guarantees made. Under Textor, Lyon and Eagle made three guarantees to support obligations to other clubs in Textor’s portfolio. Those guarantees were not disclosed in published financial statements. The exposure is about €80 million.

"a few ‘bodies in the closet’" All sounds very shonky to me