Latest news with #Lyonnais
Malay Mail
12 hours ago
- Business
- Malay Mail
Now relegated to Ligue 2, Lyon secure Uefa backing for Europe spot if demotion overturned
LYON, June 28 — 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 yesterday. 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-euro ($14.6 million) fine with a suspended amount of 37.5 million euros, 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 ($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. Lyon will have seven days to appeal from the date they are officially notified of the DNCG's ruling. The club said Friday they had not yet received the notification. — AFP
Daily Mail
3 days ago
- Business
- Daily Mail
Seven cut-price stars Premier League clubs should sign from crisis-club Lyon, including a 20-year-old Belgian linked to Liverpool and Chelsea
Right now, Lyon could do with finding the next Karim Benzema to sell to the Premier League. The seven-time champions have been demoted to the second tier of French football due to financial irregularities, after the club last year announced debts of £422million. Lyon confirmed they will appeal against Tuesday's decision from the French football authorities, which also looks set to cost them their spot in the Europa League.
The Independent
3 days ago
- Business
- The Independent
Why French giants Lyon have been relegated from Ligue 1
French football club Lyon has been relegated to Ligue 2 by the DNCG, the sport's financial watchdog, due to unresolved financial difficulties. The decision, announced by the French Football League (LFP), upholds a provisional relegation issued last November, despite Lyon's recent player sales. Lyon's president, John Textor, who is also selling his shares in Premier League club Crystal Palace, had expressed confidence that the club's financial position was resolved. Lyon, a seven-time French champion and recent Champions League semi-finalist, plans to immediately appeal the decision, citing sufficient cash liquidity and shareholder investments. While Lyon's relegation itself does not directly impact Crystal Palace's potential Europa League spot, the situation highlights the financial scrutiny in French football.
The Guardian
4 days ago
- Business
- The Guardian
Seven-time French champions Lyon relegated to Ligue 2 over financial problems
Lyon have been relegated to Ligue 2 after failing to convince authorities they have resolved their financial difficulties. The seven-time French champions were hit with a provisional relegation in November after racking up massive debts, and although they have since sold a number of first-team players, French football watchdog the DNCG upheld the relegation following meetings on Tuesday. The decision was announced by the French Football League (LFP) on Tuesday evening. Monaco, Nantes and Paris FC will face no further action. Although Lyon can still appeal against the ruling, the decision to relegate a club that won seven consecutive titles between 2001-02 and 2007-08, and reached the semi-finals of the Champions League as recently as 2020, will send shockwaves through French football. The club's president John Textor told L'Équipe last week he was confident the club's financial position had been resolved, having said in November there was 'no chance' the club would be relegated. Textor is in the process of selling his shares in Crystal Palace, who are at risk of being denied their place in the Europa League next season as Lyon have also qualified after finishing sixth in Ligue 1. A sale to Woody Johnson, owner of the NFL's New York Jets, has been agreed but the Premier League is yet to ratify the deal and Johnson must yet pass the Premier League's owners' and directors' test. After receiving the provisional relegation last year, Lyon sold the likes of Saïd Benrahma, Anthony Lopes and Maxence Caqueret in January, and this summer they have already sold Rayan Cherki to Manchester City.
The Independent
4 days ago
- Business
- The Independent
Seven-time French champions Lyon relegated to Ligue 2 over financial woes
French giants Lyon have been relegated to Ligue 2 after failing to convince authorities they have resolved their financial difficulties. The seven-time French champions were hit with a provisional relegation back in November after racking up massive debts, and although they have since sold a number of first-team players, French football watchdog the DNCG upheld the relegation following meetings on Tuesday. The decision was announced by the French Football League (LFP) on Tuesday evening. Monaco, Nantes and Paris FC will face no further action. Although Lyon can still appeal against the ruling, the decision to relegate a club that won seven consecutive titles between 2001-02 and 2007-08, and reached the semi-finals of the Champions League as recently as 2020, will send shockwaves through French football. The club's president John Textor told L'Equipe last week he was confident the club's financial position had been resolved, having said back in November there was 'no chance' the club would be relegated. Textor is in the process of selling his shares in Premier League club Crystal Palace, who are at risk of being denied their place in the Europa League next season as Lyon have also qualified after finishing sixth in Ligue 1. A sale to Woody Johnson, owner of the NFL 's New York Jets, has been agreed but the Premier League is yet to ratify the deal and Johnson must yet pass the Premier League's owners' and directors' test. After receiving the provisional relegation last year, Lyon sold the likes of Said Benrahma, Anthony Lopes and Maxence Caqueret in January, and this summer they have already sold Rayan Cherki to Manchester City.
