Michele Kang completes takeover of Olympique Lyonnais before DNCG hearing
American businesswoman Michele Kang finalized her takeover of French football club Olympique Lyonnais (OL) on June 22, 2026, one day before a critical DNCG financial hearing. Kang, who took over from former owner John Textor amid nearly €500 million in debt, has committed €71 million in new funds over two seasons and written off over €232 million in subordinated debt. The takeover aims to stabilize OL’s finances, avoid sanctions like relegation, and support Champions League qualification hopes.
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Lyon Mayor Hails Michele Kang's Full Takeover of OL as 'Wonderful News'
Lyon mayor Grégory Doucet praised Michele Kang's acquisition of sole control over Olympique Lyonnais (OL) as 'magnificent news' and a demonstration of her 'commitment and reliability.' The Korean-American billionaire, already president for a year, secured 87.78% of the club through a significant financial contribution, expanding her role beyond the women's team OL Lyonnes. Doucet, speaking on the sidelines of an Olympic sites presentation, emphasized the opportunity to advance gender equality by developing both the men's and women's teams at the same level. He commended Kang's courage in taking on an expanded challenge and noted that her original project for women's football remains a priority alongside the new broader responsibilities. The acquisition marks a major shift in OL's ownership structure.
Foot - actualités, mercato, info & vidéo en continuOL's Value Plummets: From €800M Textor Deal to €30M Kang Acquisition
Olympique Lyonnais (OL) has entered a new ownership era as Michele Kang acquires 87.8% of the club's capital for just under €30 million, a stark contrast to John Textor's €798 million takeover in 2022. The dramatic depreciation is attributed to poor management, failed transfers, and exorbitant wages that deepened the club's debt to approximately €600 million. Kang is taking on this debt alongside the purchase price. She has personally committed to a debt compensation plan canceling less than 50% (€262 million), but a remaining €350 million debt persists, primarily linked to stadium costs. Experts note that comparing the two purchase prices is misleading; the share price dropped from €3 to €19 cents. Kang's existing commitment and unique financial capacity are seen as the only factors capable of saving the club. OL's financial fragility will require years to recover, exemplified by a costly, non-terminable Miami office lease Textor initiated.
Foot - actualités, mercato, info & vidéo en continuMichele Kang Responds to John Textor's Accusations at OL Press Conference
Michele Kang, the new president of Olympique Lyonnais, held a press conference on June 27, 2026, to address accusations made by predecessor John Textor. Textor had published a letter attacking Kang, accusing her of orchestrating a takeover and smear campaign. Kang firmly denied any personal vendetta, stating her decisions as CEO of the publicly traded OL Group were solely based on her responsibilities. She defended the internal audit process, emphasizing it was conducted in compliance with rules and expert advice. Kang asserted that her actions were standard for any CEO in her position, dismissing Textor's claims as unfounded. The dispute highlights ongoing tensions within the club's leadership.
Foot Mercato : Info Transferts Football - Actu Foot TransfertBought by Michele Kang for 30 Million Euros: The Collapse of Olympique Lyonnais' Value
Olympique Lyonnais (OL) has been acquired by American businesswoman Michele Kang for just under 30 million euros, a fraction of the 798 million euros paid by John Textor in 2022. The dramatic devaluation is attributed to catastrophic management, failed player transfers, and exploding debt levels now reaching approximately 600 million euros. Kang, who already invested in the club, has committed to canceling 262 million euros of debt but still faces 350 million euros in liabilities, mainly regarding the stadium. Experts say comparing the two purchase prices is meaningless due to enormous financial deterioration under Textor, including a deficit of 200 million euros in 2024-2025. Kang appears to be the only potential savior, as no other investor was willing to take on such massive debt. The club must also cover long-term costly commitments, like a seven-year office lease in Miami worth over a million euros.
Foot - actualités, mercato, info & vidéo en continuMichele Kang Becomes New Owner of Olympique Lyonnais
South Korean-born American businesswoman Michele Kang has officially become the new owner of Olympique Lyonnais (OL) after acquiring 87.78% of the club's shares for 26.3 million euros. She also pledged to inject up to 71 million euros over the next two seasons. The announcement was made by Eagle Football Group, the group of former owner John Textor, on June 26, 2026. Kang had already served as club president for a year and will continue as CEO. The ownership change comes after Lyon was relegated to the second division in June 2025 due to a debt of 175 million euros, though the club avoided relegation after financial authorities approved the transition from Textor to Kang. Textor's management had faced warnings since late 2024 over lack of financial control. Lyon is one of France's most storied clubs, with seven league titles and numerous other trophies.
FútbolMichele Kang, new owner of Olympique Lyonnais: 'At times, we were in a near-death situation'
Michele Kang, the new owner of Olympique Lyonnais since June 23, held a rare press conference at Groupama Stadium following the DNCG's decision to keep the club in Ligue 1 with a payroll cap. Kang detailed her personal and financial risks in acquiring the club, admitting there were moments of a 'near-death situation' during the process. She outlined her three priorities for the upcoming season: completing restructuring, ensuring financial sustainability, and achieving sporting success through investment in the academy, youth development, first team, and infrastructure. She noted that the club's losses were halved from over €200 million in 2024-2025 to a lower figure in the past season, and she expressed confidence in the club's future profitability. Kang also addressed the low public offer value ($30 million), citing complex valuation factors and an additional €75 million cash injection commitment over two seasons. The event was attended by CEO Michael Gerlinger and new sporting director Matthieu Louis-Jean.
Foot - actualités, mercato, info & vidéo en continuMichele Kang completes OL takeover, injects 71 million euros to secure Ligue 1 status
American businesswoman Michele Kang has completed her takeover of Olympique Lyonnais (OL), becoming the majority shareholder of the heavily indebted Ligue 1 club. Kang, who had been a minority owner, committed 71 million euros (31 million immediately, 40 million later) to cover operating expenses and reassure the DNCG, French football's financial watchdog. The DNCG imposed a wage cap but did not relegate the club or impose a transfer ban. Kang described the process as the greatest challenge of her life and admitted the club was 'close to death.' She had already halved the wage bill since becoming interim owner in July 2025. Additional revenue from player sales, partnerships, and UEFA subsidies will help complete the budget. Kang joins Maria Mourinho (Celta de Vigo) and Vanessa Gold (West Ham) as one of only three female club owners in Europe's top five leagues.
Home Football - actualitésBuying OL: I Did What a CEO Should Have Done, Says Kang
Michele Kang, the new American owner of Olympique Lyonnais (OL), addressed the press on Friday, June 26, 2026, discussing the significant financial and personal risk she undertook in acquiring the French football club. Kang stated that she acted as a CEO should, implying that previous leadership had failed to meet their responsibilities. The acquisition is a major move in Ligue 1, and Kang's comments highlight her commitment to turning the club around. The article, published by RMC Sport, includes a video of her remarks and positions this as a pivotal moment for OL under new ownership.
Home Football - actualitésJohn Textor Publishes Scathing Letter Attacking Michele Kang Ahead of OL Acquisition Finalization
John Textor, the outgoing American owner of Olympique Lyonnais (OL), published a letter on the Eagle Football website attacking incoming majority owner Michele Kang. Textor, facing permanent ouster, accuses Kang of using official press releases and 'internal investigations' to damage his reputation and serve her personal interests. He also implicates current CEO Michael Gerlinger, claiming Gerlinger was instrumental in the controversial financial and sporting model Textor is criticized for. The letter comes as Kang is set to confirm a €71 million injection into OL Group to finalize the club's acquisition, with a press conference scheduled for June 25, 2026. Textor frames Kang's actions as a pattern of malicious business tactics she allegedly used previously with Washington Spirit. Kang and Gerlinger are expected to respond at the upcoming press conference.
Foot Mercato : Info Transferts Football - Actu Foot TransfertOL Announces Surprise Press Conference with President Michele Kang
Olympique Lyonnais (OL) has announced an unexpected press conference featuring club president and majority shareholder Michele Kang, alongside CEO Michael Gerlinger. The event is scheduled for Friday, June 26, 2026, at 5:30 PM. Kang recently became the majority owner after John Textor's departure and has committed to injecting up to €71 million in new funds into the OL Group over the next two seasons. The press conference is highly anticipated as it follows a recent promise to fans, and her statements are expected to address the club's financial and strategic direction during a busy summer.
Foot Mercato : Info Transferts Football - Actu Foot TransfertOlympique Lyonnais Future Owner Michele Kang to Inject €71 Million
In a press release formalizing her agreement to acquire Olympique Lyonnais (OL), Michele Kang has committed to injecting up to €71 million in new funds into the OL Group over the next two seasons. The first tranche of €31 million will be available upon deal finalization, with the remaining €40 million to be released based on the club's needs. This capital infusion is part of a broad financial restructuring plan that also includes the write-off of over €232 million in subordinated debt and the rescheduling of several loans, intended to stabilize the club's finances. If the transaction proceeds, OL will leave the Eagle Football group and revert to being OL Groupe, remaining listed on the stock exchange. The acquisition still requires final approval from the DNCG, the French financial regulatory body for football clubs.
Foot Mercato : Info Transferts Football - Actu Foot TransfertOL and OM Presidents Arrive for DNCG Hearing at LFP Headquarters
On Tuesday morning, Olympique Lyonnais (OL) president Michele Kang and Olympique de Marseille (OM) president Stéphane Richard arrived separately at the Ligue de Football Professionnel (LFP) headquarters for their respective hearings before the DNCG (Direction Nationale du Contrôle de Gestion), the French football financial watchdog. Kang, now the sole owner of OL after previously sharing ownership, arrived alone just before 9:30 a.m. for the club's takeover hearing. Richard appeared shortly after for OM's hearing. The DNCG hearings are standard procedures to review financial compliance and governance of French professional football clubs, particularly relevant during ownership transitions.
Foot - actualités, mercato, info & vidéo en continuMichele Kang Officially Becomes Majority Owner of Olympique Lyonnais
Michele Kang has officially completed her takeover of Olympique Lyonnais (OL) on June 22, 2026, becoming the majority owner of the French Ligue 1 club. Kang, an American businesswoman, had been a minority shareholder and the leading figure since summer 2025 following the ouster of former owner John Textor. The takeover comes one day before a crucial hearing before the DNCG, the French financial regulatory body for football clubs. Under Kang's leadership and CEO Michael Gerlinger, the club's finances are improving, with a significantly reduced wage bill and signs of a gradual return to balance. A favorable DNCG decision would allow OL to approach the summer transfer window and its European campaign more calmly, with the goal of returning to the Champions League league phase after the August play-offs.
Foot Mercato : Info Transferts Football - Actu Foot TransfertMichele Kang completes takeover of Olympique Lyonnais ahead of DNCG review
Michele Kang, previously a minority shareholder, has completed the takeover of Olympique Lyonnais (OL) on Monday, June 22, 2026, just one day before the club's case is to be examined by the DNCG (French football's financial watchdog). Kang has been working since summer 2025 to stabilize the club's finances after the tenure of former owner John Textor left OL with significant debt (nearly €500 million) and a history of deficits. The takeover, finalized with new partners and retaining fund Ares as an ally, aims to avoid further sanctions such as wage bill oversight or potential relegation. While an immediate DNCG decision is not expected, the new governance plans a drastic three-year management plan. On the field, OL's strong season offers hope for Champions League qualification, which could bring around €40 million in revenue, though this remains uncertain for the DNCG review.
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