Ligue 1: Textor’s takeover of OL is still in extra time

that “progress towards the final lookbut the signature was still expected. OL Groupe, which gave “deadline“Billionaire John Textor, to take over Lyon’s Olympique, said Thursday that he hopes the deal will be successful.”quickly“.

OL Groupe on Monday gave John Textor two more days to complete the €800m takeover of the Ligue 1 club and group through holding company Eagle Football, with the aim of:deadline“.

But in a press release issued Thursday morning, OL Groupe said Mr. Textor “confident“For the fact that the remaining contracts to be obtained and finalized are:obtained and signed in short order“.

“Under these circumstances (…) the sellers and the company believed that, given the progress made, there was a good chance that “closing” would happen quickly.OL Groupe announces.

The group says it will reportOnce the +closing+ date is set“.

The sale, originally planned for late September, has since been delayed several times, notably pending the Premier League’s green light for a financial package planned by John Textor through his Eagle Football holding company.

The American assured OL Groupe that “As of November 17, Eagle Football has secured all necessary financing for the operation and signed firm contracts;with investors.

He also said to himself.I am confident that it is the agreement in principle of all parties to continue the original investment in Eagle Football (in) various participations in football clubs in the United Kingdom, Brazil and Belgium.“According to the considerations reported in the press release.

“More Enthusiastic Than Ever”

John Textor

Eagle Football Holding, which includes John Textor and Canadian businessman Jamie Salter, committed in late June to acquire all and half of Holnest’s shares in Osranes (bonds converted into shares issued to finance the construction of Groupama Stadium). The holding of the Jean-Michel Aulas family (27.7% of the capital). Plus all shares owned by Pathé (19.3%) and Chinese investment fund IDG Capitals (19.8%).

OL Groupe shares, which had been suspended since mid-November, resumed trading on Tuesday, the day after “finalThe postponement was granted. the market expressed its skepticism and the stock lost more than 20% of its value in two days, trading at €2.18 on Wednesday evening, far from the €3 per share price promised for redemption.

Thursday’s press release was hopeful. the action regained color at the stock market open (+19.27%) at €2.60 around 9:15am.

John Textor reiterated to OL Groupe that he is with Eagle Football.I am more excited than ever at the prospect of fully investing in the development of the Lyon Olympics, driven by its president Jean-Michel Aulas and his team.“.

Financial recovery

The sale, which takes place in Arles, will be a historic turnaround for the Ligue 1 club, which has been under the chairmanship of Jean-Michel Aulas for 35 years, even if the latter has to keep the “at least three years” his position as president, according to the expected arrangement.

After a setback due to the Covid pandemic, which led to the closure of the stands and the bankruptcy of former broadcaster Mediapro in 2020, the club is in full financial recovery.

During the 2021-2022 financial year, its turnover increased by 42% to 252.6 million euros, and the net loss was halved compared to the previous season (-55 million against 107.5 million).

And its results are still growing from July to the end of September. turnover increased by 30% (specifically, with a 45% increase in ticketing revenue).

In a press release, OL Groupe noted that Eagle Football’s majority shareholder, John Textor, has now said:confident“so that there are still agreements to be reached and finalized”obtained and signed in short order“. “Under these circumstances (…) the sellers and the company believed that, given the progress made, there was a reasonable likelihood that a quick closing would occur;OL Groupe noted.