Lyon have recorded a massive €201m loss for the 2024-2025 Ligue 1 season, the final campaign with Eagle Football Limited chief John Textor in charge. On Friday, the American fund have published their financial books for the previous financial year, and they were – as expected – catastrophic for Les Gones. Due to the TV rights crisis and Textor’s management of the Ligue 1 side, Lyon were headed towards straight for bankruptcy, had Textor remained in charge, according to L’Equipe.

This would explain why DNCG – Direction Nationale du Contrôle de Gestion, French football’s financial watchdog – confirmed Lyon’s administrative relegation into Ligue 2. In the aftermath of the DNCG’s decision, Textor has been ousted and replaced by Michele Kang as Lyon president.

The American businesswoman oversaw a complete overhaul of the club’s structure, drastic cuts into the wage bill and the sales of the team’s prized assets, including Rayan Cherki and Georges Mikautadze. Eagle Football hopes to regain financial stability by 2028. Lyon, who top the Europa League standings, host Nantes on Sunday.