Lyon relegated from Ligue 1: Club owner John Textor to take a step back from management

The American businessman John Textor plans to take a step back from the daily management of Olympique Lyonnais after the club’s relegation to Ligue 2, which was confirmed after a meeting with the Finance Financial Witchdog (DNCG) of French football.

Textor, who owns the French club through its Eagle Football Group, unveiled his decision in an interview with the TV Globo of Brazil on Saturday, shortly before his Brazilian side Botafogo lost 1-0 to Palmeiras in the World Cup and said that he could have treated French football politics better.

The relegation of Lyon was provisionally announced by the DNCG in November due to financial irregularities and was confirmed on Tuesday. Textor said that the club would appeal against the decision and that Lyon’s financial position would remain strong despite the ruling.

«I will tell you that we are very well capitalized in France,» Textor told TV Globo. «It is clear that I have been much better on the field than managing France. I have not been so good in the politics of France. I think that is known. So for me the process is an American capitalist who adapts to that system.»

Textor said that his focus would shift to wider responsibilities within Eagle Football Group, which also includes Botafogo and previously included an interest of 43% in the English club Crystal Palace, which was sold earlier this week.

«I am going to spend a lot more time concentrating on Eagle Global, to be honest, a bit more to return to Botafogo,» he said.

«I have very good partners in the shareholders of the Eagle Football Group who take the lead when dealing with some of the problems that I honestly have not been so good with.»

Read also | Seven-fold Ligue 1 champion Lyon has relegated to Ligue 2, Files Appeal

Despite the relegation of Lyon, Textor emphasized the recent performance of the club, including back-to-back qualifications for the Europa League, and assured fans about their financial stability.

«We have never been liquid in cash again. But there are things in the process that I have done disappointed there that we have to solve,» Textor said.

«We have passed on the Financial Sustainability Review with UEFA, which is a pretty extensive process. So the fact that we have not passed France has more to do with some of the specific elements that I brought to the table that I should have improved.»

Textor hinted on a possible acquisition in the UK to replace the importance of Crystal Palace.

«We have our British strategy where we should look at who our new club is. What are we going to buy there? What is the partnership? Because it is the collaboration between the clubs that has been so successful for us,» he said.