John Textor will be the owner of Olympique Lyonnais in the next few hours. Everything is in order, but Jean-Michel Aulas still watched the latest developments closely to avoid a complicated situation in the future.
This Friday, September 30 is the deadline for the sale of Olympique Lyonnais, agreed between the current owners and John Textor. The American businessman has put the turbo in recent days to complete this operation on time, and he seems to have succeeded. L’Equipe explains this Thursday that the shareholders of OL Groupe are twice called to finalize the sale of the company. First this Thursday afternoon for an extraordinary board of directors, then this Friday to probably validate the arrival of John Textor and his capital in power. More than three months after the start of exclusive negotiations, everything is falling into place even if it took a new round of funding and a change in the participants in the investments to reassure the banks responsible for managing OL’s debt. However, there is a risk that the sale will not be validated by Friday, September 30 after the stock market closes, but it now seems certain that the sale of the club will take place.
The assets of OL Groupe were at stake!
The arrival of the Ares investment fund has completely reassured the banking establishments, with a decisive contribution of 400 million euros from Eagle, the company of John Textor. This colossal contribution, however, initially raised fears for the sustainability of the Lyon club. Nevertheless, shareholders were reassured. This amount will not have to be repaid for 8 years and above all, OL Groupe has refused to stand surety for the loan of 400 ME granted to Eagle. As a result, the Lyon club does not put itself in danger in the event of difficulty in repayment and its assets are not pledged. A vulture fund which would have lent money directly to OL Groupe, could have recovered this sum a few years later, by selling the company’s assets, even if it meant endangering the financial and even sporting health of OL in the medium term. This will therefore not be the case and the takeover should take place under the supervision of John Textor, who will put 300 million euros on the table, and will proceed as planned with a capital increase of 86 million euros. once the redemption is validated. With a part of this sum dedicated to an immediate investment to strengthen the team.