John Textor Steps Back from Direct Management of Lyon After Relegation
American businessman John Textor plans to take a step back from the daily management of Olympique Lyonnais, following the club’s relegation to Ligue 2, confirmed after a meeting with the financial control body of French football (DNCG) this week. Textor, owner of the French club through his Eagle Football Group, revealed his decision in an interview with TV Globo of Brazil on Saturday, shortly before his Brazilian team, Botafogo, lost 1-0 against Palmeiras in the Club World Cup, admitting that he could have handled French football politics better. Lyon’s relegation was provisionally announced by the DNCG in November due to financial irregularities and was confirmed on Tuesday. Textor stated that the club will appeal the decision and that Lyon’s financial situation remains solid despite the ruling.Textor indicated that his focus will shift towards broader responsibilities within Eagle Football Group, which also includes Botafogo and previously held a 43% stake in the English club Crystal Palace, sold earlier this week.I will tell you that we are very well capitalized in France. It is clear that I have been much better in the field than managing France. I have not been so good in French politics. I think that is well known. So the process is, for me, as an American capitalist, to adapt to that system.
John Textor
