Lyon can compete in Europe if they overturn relegation: Club
LYON: Lyon have agreed a financial sustainability procedure with UEFA which will allow them to play in Europe next season if they win their appeal against relegation to the French second division, the club said on Friday.
On Tuesday, French football's financial watchdog (DNCG) demoted the club.
Lyon, who finished sixth in Ligue 1 last season and qualified for the Europa League, said at once they would appeal.
On Friday, they said that UEFA was prepared to accept them into continental competition.
"Olympique Lyonnais completed the financial sustainability procedure and signed an agreement with the UEFA Club financial control body," the club said on their website.
"The club could therefore participate in next season's Europa League, subject to a favourable outcome of the appeal of the DNCG decision."
A source close to the discussions between the club and the governing body of European football added that Lyon would be subject to a €12.5 million (US$14.6 million) fine with a suspended amount of €37.5 million, to be lifted if the club achieves its financial targets.
After the DNCG initially ruled in November that Lyon would be relegated at the the end of the season, UEFA began monitoring the club.
On May 5, UEFA fined Lyon €200,000 euros (US$234,400) for unpaid bills to other clubs, to employees, and to the tax and social security authorities.
After the DNCG ruling confirmed its initial decision, the club said they had met "all of its demands."
While they were unable to convince the French watchdog, UEFA has ruled Lyon could play in Europe.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
an hour ago
- New Straits Times
The Postecoglou connection to Harimau Malaya
KUALA LUMPUR: Malaysia's rise on the international football stage is shaped by a coach connected to the vaunted Ange Postecoglou. Peter Cklamovski, who used to work with Postecoglou in the Australian national team, has revitalised Harimau Malaya since coming to Kuala Lumpur in January. Cklamovski has not only changed Malaysia's playing style, but also chalked up an impressive winning record in competitive matches. His tactical approach reflects Europa League winner Postecoglou's commitment to fluid, attacking football built on intense pressing and positional discipline. "Cklamovski is a prodigy of Postecoglou. It's no coincidence the type of coach that has now come in, especially when you look at how Malaysia want to play," said former Australian international Scott Ollerenshaw, who has been involved in the development of Malaysian football for over two decades. Cklamovski's methods also align with the footballing philosophy of the Regent of Johor, Tunku Ismail Sultan Ibrahim, who has long championed a modern, possession-based game in Malaysian football, primarily through his work at Johor Darul Ta'zim. "Having been around Tunku Ismail a lot, I know he wants to play a certain style of football. He doesn't want the old-fashioned English style of long balls. He wants a short-passing, possession-based game, and he's been successful with it," said Ollerenshaw. "In my opinion, Tunku Ismail can find people who can sync with that style. There's no point in bringing in quality players and then playing a rigid 4-4-2 and punting the ball forward. That was never going to work." Under Cklamovski, Malaysia recorded back-to-back wins in Asian Cup qualifiers: 2-0 against Nepal in March and 4-0 against Vietnam earlier this month. The triumph over Vietnam was significant, as it marked Malaysia's first win against the Southeast Asian powerhouse in 11 years. Harimau Malaya now show better structure, fluidity, and intent, characteristics that have long been missing from the national team.
The Star
an hour ago
- The Star
SK Group is said to consider selling stake in Malaysian waste firm Cenviro
SK Group is considering selling its minority holding in Cenviro Sdn. in a deal that could value the Malaysian waste management company at about US$300mil, according to people with knowledge of the matter. The South Korean conglomerate is working with a financial adviser on a potential sale of its 30% stake, the people said, asking not to be identified because the process is private. SK has been in touch with prospective investors, including industry peers and private equity firms, two of the people said. SK invested in Cenviro in 2022 through SK Ecoplant Co. for an undisclosed sum. Malaysian sovereign wealth fund Khazanah Nasional Bhd. is Cenviro's majority shareholder. Considerations are ongoing and SK may decide to keep the stake, one of the people said. Representatives for Cenviro and SK ecoplant declined to comment. If SK proceeds with a sale, it would be in line with its shift away from the waste management business: South Korean media has reported that it plans to also sell its Renewus and RenewOne units. SK has been going through a wider restructuring after a lengthy acquisition spree that burdened it with liabilities. The conglomerate is also focusing its attention more on areas such as artificial intelligence and chips. - Bloomberg
New Straits Times
an hour ago
- New Straits Times
Malaysia, Russia to deepen economic ties
MOSCOW: Malaysia and Russia will deepen economic cooperation, particularly in high-potential sectors such as the halal industry, agriculture and food security, Deputy Prime Minister Datuk Seri Fadillah Yusof said. He said bilateral trade between the two countries remained modest in 2024, despite Russia's large economy. Russia ranked as Malaysia's ninth-largest trading partner among European nations this year, with total trade reaching RM11.46 billion (US$2.48 billion). Malaysia's key exports to Russia include electrical and electronic products, machinery, equipment and parts, as well as processed food. "I invited Russian companies to invest in Malaysia and take advantage of the government's incentives in strategic sectors such as aerospace, agrotechnology, energy, ICT (information and communications technology), the digital economy, Islamic finance and the halal industry," he said at a press conference at the end of his four-day working visit to Russia late last night. Fadillah, who is also the energy transition and water transformation minister, called for cooperation in agriculture and food security, and proposed joint research and development in fertiliser and pesticide technologies, agro-engineering and food technology. "I discussed collaboration in higher education and conveyed appreciation to the Russian government for its scholarships to Malaysian students. "I also proposed that these scholarships be extended to emerging sectors such as artificial intelligence, big data and information science, in line with current industrial transformation," he said. On tourism, Fadillah said Malaysia welcomed a proposal for direct flights between the two countries, which is expected to be finalised soon. However, he said that Russia had raised concerns over financial transactions, which had to some extent hampered the growth of bilateral trade. He gave an assurance that the Malaysian government, through the relevant agencies, including Bank Negara Malaysia, would continue to facilitate smooth financial transactions between both sides. "I will present the outcomes of my discussions with Russian counterparts to the cabinet upon my return to Malaysia. "Insya-Allah, I am confident that Malaysia-Russia cooperation will continue to develop positively and bring tangible benefits to our country," he added. – Bernama
