On Friday, the National Management Control Department (DNCG) has imposed heavy sanctions on theOlympique Lyonnais because of its indebtedness. The Ligue 1 has been imposed a wage bill ceiling and a recruitment ban for the upcoming winter mercato. In addition, the DNCG has imposed a precautionary demotion at the end of the current season, according to a press release from the LFP.
Despite these announcements, John Textorthe club’s American owner, was reassuring. “I’m not at all worried about the future of the company,” he declared after his hearing in Paris. Asserting the financial solidity of his holding company Eagle Football Holdings, he said, “We’re going to bring in several hundred million in cash over the next few months.”
A very high level of debt
However, Eagle Football’s recent financial results have worried supporters, with a net debt of 463.8 million euros. Although the group is banking on cash inflows, the auditors have expressed doubts about the feasibility of these projections. “The local auditors have only looked at the French soccer club,” criticized John Textor, before reaffirming, “We’re not at all worried about our sustainability.”
The owner promised not to sell the club’s best players. “Don’t worry, it won’t be your favorite player, the best player, if we don’t have someone to replace him.” John Textor still has ambitions to qualify OL for the Champions League. “We earn around €90 million a year from the sale of players,” he added. While expressing confidence, he acknowledged his uncertainty about the DNCG’s decision: “I’m never confident about how a regulatory body sees things,” citing “pressure” from “enemies”.