American Michele Kang Agrees Deal to Buy French Club Lyon
The agreement includes $30 million for Eagle Bidco shares and up to €71 million in new funding, subject to French regulator approval and Ligue 1 survival.
- On Tuesday, US businesswoman Michele Kang announced plans to purchase 87.78% of Eagle Bidco for $30 million, the holding company controlling Olympique Lyonnais, aiming to provide stability amid severe financial difficulties.
- Eagle Football Group was placed under administration in March, effectively removing former chairman John Textor from leadership; Kang took over as club president from Textor in June 2025.
- EFG reports approximately 232.6 million euros of subordinated debt, prompting Kang to commit "up to 71 million euros of new money to the OL group" and personally repay lenders' outstanding obligations.
- The deal remains subject to authorization from the French Financial Markets Authority and requires Lyon to retain its Ligue 1 status for the coming season to proceed.
- Under Kang, who also owns the Washington Spirit and London City Lionesses, Lyon reached Champions League qualifying rounds last season; she stated, "We have managed to regain everyone's trust.
17 Articles
17 Articles
Michele Kang will soon be the official owner of Olympique Lyonnais. Eagle Bidco, represented by its insolvency administrator Cork Gully, announced on Tuesday, June 23, an agreement with Michele Kang for the acquisition of 87.8% of the share capital of Eagle Football Group SA, the parent company of Olympique Lyonnais. Michele Kang would thus become the sole controlling shareholder of the club, having personally committed to buying out the debt of…
The Olympian of Lyon, one of the great clubs in France, will pass the hands of the South Korean American entrepreneur Michele Kang, the president of the entity for a year, but who will now control its capital by buying the debt of the previous owners while promising to inject 75 million euros. "Michele Kang has personally pledged to buy back the debt of Eagle Bidco's main lenders (from the group of former owner John Textor) and will become, alon…
An agreement has been reached for the purchase of OL by the American businesswoman, who has been running the club for a year.
Eagle Bidco, represented by the judicial administrator Cork Gully, has reached an agreement with Michele Kang, concerning the acquisition of 87.78% of the capital of Eagle Football Group, the parent company of the OL. The manager undertook to inject up to €71 million into the Group, with a first tranche of €31 million made available for the realization of the acquisition. A major condition remains to be obtained, the maintenance of OL in Ligue 1…
Coverage Details
Bias Distribution
- 62% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
