Lyon dodged a major bullet when French football bosses reversed their relegation decision after the club mounted a successful appeal. The seven-time champions had been demoted to Ligue 2 by financial watchdogs who slapped budget restrictions on the struggling outfit back in November. American businesswoman Michele Kang swooped in to replace John Textor as club president during the crisis. The French Football Federation confirmed that Lyon would stay in the top flight but must slash their wage bill and transfer spending for the upcoming season. Club officials celebrated the victory as the first step toward rebuilding trust with supporters and authorities.
Textor stepped away from daily operations two weeks earlier as pressure mounted on the club leadership. Kang had already been running the women's team before taking charge of the entire organization as the second-largest shareholder behind Textor. The new president praised the collective effort that saved Lyon from the embarrassment of playing second-division football. French football legend Jean-Michel Aulas backed Kang's appointment and warned that the hardest work lay ahead during the reconstruction phase. The former long-time owner had guided Lyon to seven straight titles between 2002 and 2008.
Lyon cleared house by releasing striker Alexandre Lacazette and goalkeeper Anthony Lopes while selling Rayan Cherki to Manchester City and Maxence Caqueret to Como. The club finished sixth last season to secure Europa League qualification and will compete in that tournament despite their financial troubles. UEFA had already extracted a fine from Lyon as part of the settlement. The successful appeal allows the historic club to maintain their elite status while working to fix their books.
Textor stepped away from daily operations two weeks earlier as pressure mounted on the club leadership. Kang had already been running the women's team before taking charge of the entire organization as the second-largest shareholder behind Textor. The new president praised the collective effort that saved Lyon from the embarrassment of playing second-division football. French football legend Jean-Michel Aulas backed Kang's appointment and warned that the hardest work lay ahead during the reconstruction phase. The former long-time owner had guided Lyon to seven straight titles between 2002 and 2008.
Lyon cleared house by releasing striker Alexandre Lacazette and goalkeeper Anthony Lopes while selling Rayan Cherki to Manchester City and Maxence Caqueret to Como. The club finished sixth last season to secure Europa League qualification and will compete in that tournament despite their financial troubles. UEFA had already extracted a fine from Lyon as part of the settlement. The successful appeal allows the historic club to maintain their elite status while working to fix their books.
