American businesswoman Michele Kang has agreed to acquire French football club Olympique Lyonnais in a move designed to bring financial stability and a fresh chapter to one of France’s most decorated sides.
Current owners Eagle Football Group (EFG) announced on Tuesday that Kang will purchase the 87.78 percent stake held by its holding company Eagle Bidco in a deal valued at $30 million (€26.3 million).
The agreement also includes a significant financial commitment from Kang, who will inject up to €71 million into the club and personally assume responsibility for repaying debt owed to Eagle Bidco’s principal lenders.
EFG said the debt package includes approximately €232.6 million in subordinated debt, underlining the scale of the financial challenge facing the seven-time French champions.
“It is with a great sense of responsibility and immense honour that I am joining today in this process of taking over Olympique Lyonnais,” Kang said in a statement released by the club.
“We have managed to regain everyone’s trust while laying the foundations for the reconstruction of OL.”
As part of the planned restructuring, Lyon will be removed from Eagle Football Group and operate under a new identity, OL Group.
The proposed takeover remains subject to approval from France’s financial markets regulator, while completion of the transaction also depends on Lyon retaining their Ligue 1 status for the upcoming season.
“The transaction aims at providing new funding and stability to the OL Group amid severe financial difficulties,” EFG said.
Kang has already played a central role at Lyon, serving as president of the men’s team, a minority shareholder and owner of the club’s successful women’s side. She assumed the presidency in June 2025 after replacing fellow American John Textor.
Her arrival came during one of the most turbulent periods in Lyon’s recent history. The club was initially relegated to Ligue 2 by French football’s financial watchdog over concerns about its finances before successfully overturning the decision on appeal. The ruling forced Lyon to reduce both their wage bill and transfer spending.
Eagle Football Group entered administration in March, a development that effectively ended Textor’s leadership role within the organisation. Textor had acquired control of Lyon in December 2022 from long-time president Jean-Michel Aulas, whose tenure delivered an unprecedented run of seven consecutive Ligue 1 titles between 2002 and 2008.
Despite ongoing financial pressures, signs of progress emerged on the pitch last season. Under Kang’s leadership, Lyon climbed to fourth place in Ligue 1 and secured a place in the UEFA Champions League qualifying rounds.
Kang’s growing influence in world football extends beyond France. She also owns the Washington Spirit in the United States and England’s London City Lionesses, strengthening her position as one of the most influential investors in the women’s and men’s game.
The proposed takeover now represents a pivotal moment for Lyon, with Kang aiming to restore long-term stability and guide one of French football’s biggest clubs back toward sustained success both on and off the field.
