OL: John Textor cracks and empties his pockets

Frustrated by the slowness of the takeover of Olympique Lyonnais, John Textor decided to complete the operation by paying 5 million euros himself to prove his good faith. A rare process for the American, who must own OL in a week.

In a week, John Textor must be the new owner of Olympique Lyonnais. The date of “closure” given last month can no longer be postponed, although this has already been the case twice. Annoyance has been felt in recent days within the Rhone club, but it has given way to a certain confidence which has never really been called into question, reveals L’Equipe on Thursday. Despite the difficulties in finishing his round and financing the redemption of the debt, John Textor has always been considered the future owner of the Rhone club, and that has not changed. This Wednesday, the board of directors of Olympique Lyonnais was able to realize that all the documentation related to this takeover had been finalized, and that the American businessman put a lot of goodwill into the discussions and the will to finalize the agreement. Surprised by the slowness of this transaction, Textor worked hard to finalize the financial plan.

The DNCG and the Premier League solicited

In particular by presenting proof of financing from the Ares group, the investment fund which will lend 400 million euros to Eagle, Textor’s company, and not directly to OL. And to complete the operation, the native of Missouri even decided to put 5 million euros out of his pocket, more in order to prove his commitment than to actually finalize the operation. For now, there are two obstacles. The green light from the DNCG which must be obtained only the day before the date of the takeover, with a video meeting scheduled between the financial policeman of French football and the American businessman. The other issue is the Premier League’s agreement for whoever owns Crystal Palace to take charge of another European club. For the moment, the future buyer of OL still does not have the green light at this level, which still does not prevent optimism on the whole transaction, and therefore the takeover of OL by John Textor in a week.

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