Olympique Lyon relegated to Ligue 2 (1 Viewer)

[JuanTheDevil]

Reports have confirmed that French football giants Olympique Lyonnais (Lyon) have been officially relegated to Ligue 2 after a decision by the French football financial watchdog, the DNCG.

The decision was confirmed by the Ligue de Football Professionnel (LFP) following a review of Lyon’s financial situation. The club had already been given a warning during a previous meeting – they would drop to the second division if they failed to fix their financial problems.

Despite several attempts by the club’s owners, Eagle Football Group, to meet the financial requirements, the DNCG was not convinced. Measures taken included the sale of John Textor’s shares in Premier League club Crystal Palace and Lyon’s women’s team.

Textor, who owns the club through Eagle Football Group, had earlier said he was confident about the outcome. He told reporters that Lyon’s financial position had “improved considerably” thanks to new investments and cash from shareholders.

“You can see from the contributions of our shareholders that we’ve brought in new capital, not only for the DNCG but also for UEFA licensing,” he said.

However, the DNCG was not satisfied with the changes and confirmed that Lyon will be playing in Ligue 2 next season.

This is a major setback for one of France’s most successful clubs, who have regularly competed in European competitions and top positions in Ligue 1 in past years.

They've also produced great players like Michael Essien, Juninho Pernambucano, Gregory Coupet, Sidney Govou, Bafetimbi Gomis and a host of others