Textor is now stepping back from Lyon, with Michele Kang (she owns Lyon's women's team) and Michael Gerlinger likely taking charge.
(orig. L'equipe) and
John Textor confirms he intends to take a step back from the management of Lyon - Get French Football News
There was a lot more in yesterday's announcement that Lyon could play in the Europa League. They also we're forced to accept a UEFA restructuring plan lasting upwards of four years. In addition, they were fined €50m with €12.5 due immediately and the remainder to be avoided if Lyon manages to successfully restructure over the four years.
Next, ARES and Iconic Sports Management, the sources of the €400 million used by Textor to buy Lyon) are calling in a $93m (Yankee dollar denominated) Eagle Football stock buyback - due within a week. ARES and Iconic both want Textor out of Lyon, and have been attempting to remove him for the last several weeks. (Thursday's financial times-
Investors threaten Lyon football club owner John Textor with legal action)
Between UEFA and Iconic, Textor/Eagle owes about £75 million due immediately. The squeeze play.
In my mind, starting with Textor's Palace ownership and presently with Lyon, we're viewing a
forced series of sales being orchestrated by UEFA et al. In the end, at Lyon's relegation appeal meeting, as long as Textor has been removed, Lyon will be reinstated to ligue1 thus also gaining Europa.
We gain Europa as soon as the ownership name change at Lyon occurs? Mehopes so.
Everybody wins. Except Textor.