Michele Kang is set to become the majority shareholder of Olympique Lyonnais, acquiring 87.8% of the club’s ownership group, Eagle Football, through a debt buyout agreement with Ares, the group’s primary creditor. The deal, announced by the club, will also see a capital injection of €71 million into the organization.
This move signals a significant shift for Lyon, as the club will revert to operating under the OL Groupe banner, the name used prior to John Textor’s ownership. Kang, who currently serves as the club’s president, expressed her commitment to the club’s future, stating she felt a “great sense of responsibility and immense honor” in taking on this expanded role. She highlighted the progress made in regaining trust and laying the foundations for the club’s reconstruction over the past year.
Michael Gerlinger will remain in his position as the club’s chief executive officer under the new ownership structure. The transaction is subject to validation by the DNCG, the French football league’s financial regulatory body, and Kang is expected to appear before them in the coming days.
Kang’s increased involvement comes at a crucial time for Lyon, a historically successful club that has faced recent challenges both on and off the pitch. The financial injection is expected to provide stability and resources for player recruitment and infrastructure improvements. Lyon finished 14th in Ligue 1 last season, a significant underperformance for a club with their ambitions, and Kang will be tasked with steering the club back towards the top of the French football pyramid.
The acquisition marks a departure from the previous ownership model under Textor and Eagle Football, and represents a return to a more traditional structure for the club. This change in leadership could signal a new era for Olympique Lyonnais, with Kang aiming to restore the club to its former glory.
