John Textor has officially been replaced as president of Olympique Lyon but remains the owner. American businesswoman Michele Kang is being promoted from the Board of Directors.
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Last week marked a dramatic turning point for Olympique Lyonnais, one of France’s most storied football clubs.
The French football financial watchdog, the DNCG (Direction Nationale du Contrôle de Gestion), announced that Lyon had been administratively relegated to Ligue 2 due to serious financial irregularities. This bombshell not only sent shockwaves through the fanbase and the French footballing community but also placed immense pressure on the club’s leadership particularly on John Textor, the American businessman who had become the public face of OL’s new era since acquiring the club through Eagle Football Group.
Textor, already facing intense scrutiny over the club’s sporting decline in recent seasons, was met with protests from fans and public outcry over the handling of the club’s finances. After days of speculation and rising tension, he announced last Saturday that he would step down as club president. That resignation has now become official, marking the end of a short but turbulent chapter under his direct leadership.
In his place, Michele Kang has been appointed as the new president of Olympique Lyonnais. Kang, an American businesswoman of Korean descent, is already a key figure in the football world, particularly in women's football, where she owns the Washington Spirit (NWSL) and recently became involved with the women's team of Olympique Lyon. She is also the CEO of Eagle Football Group, where John Textor remains the majority shareholder. Her appointment represents not only a structural change but also a shift in tone and vision at the club with hopes of restoring stability and credibility.
In a statement released on the club’s official website, Textor voiced his strong support for Kang, stating, “Michele is the ideal choice to lead Olympique Lyon into the next phase. Her experience, leadership, and deep understanding of global football make her uniquely suited for this challenge. I have full confidence in her and in Olympique Lyon, which I believe will emerge stronger from this ordeal.”
Kang herself acknowledged the gravity of the situation facing the club. “We are entering a crucial period,” she said. “I look forward to working closely with OL’s management team and board of directors to support the club during the DNCG procedure and beyond. Our mission now is to ensure that Lyon’s long-term sustainability and sporting ambition are not compromised.”
Olympique Lyon has already filed an appeal against the DNCG’s decision. However, if the appeal fails, the consequences will be severe. The club would not only be relegated to Ligue 2, but it would also lose its right to compete in European competitions next season a bitter pill for a team that once consistently challenged at the top of Ligue 1 and in the Champions League. The club’s management has reluctantly agreed to this possibility as part of a strategy to stabilize finances and appease the authorities.
Another layer of complexity stems from John Textor’s involvement in multiple clubs through Eagle Football Group. Besides Lyon, Textor holds stakes in Premier League side Crystal Palace, Brazilian club Botafogo, and Belgian club RWD Molenbeek. UEFA’s multi-club ownership regulations have already raised questions about potential conflicts of interest particularly regarding which clubs might be allowed to compete in European competitions simultaneously. With Lyon’s European eligibility in doubt, it remains unclear whether Crystal Palace will benefit and secure a spot. UEFA has delayed issuing a final ruling on the matter.
Meanwhile, in Brazil, Textor appears to be shifting his focus to Botafogo, where he’s been far more hands-on. His involvement has already led to significant changes. Following the club’s disappointing elimination from the Club World Cup, head coach Renato Paiva was immediately dismissed, a clear signal that Textor is demanding results and swift progress. Botafogo, once a sleeping giant of Brazilian football, has undergone a revival under Textor’s ownership, climbing back into title contention in the Brasileirão and returning to international relevance.
Still, the turbulence surrounding Lyon has cast a shadow over the broader Eagle Football project. Critics have raised concerns about the group’s ability to manage multiple clubs with differing needs, regulations, and financial realities. While Kang’s promotion might bring short-term calm to OL, the long-term challenges from financial restructuring to competitive revival remain formidable.
For Lyon supporters, this moment is historic, but painful. A club that not long ago won seven consecutive Ligue 1 titles and boasted legends like Juninho, Benzema, and Lloris now faces the grim reality of a potential fall to the second division not because of results on the pitch, but due to financial mismanagement and administrative failure. The road ahead will be long, and fans will be watching closely to see whether Kang’s leadership can restore the pride and ambition that once defined Olympique Lyonnais.
