Official I Michele Kang to become Lyon’s sole majority shareholder

Official I Michele Kang to become Lyon’s sole majority shareholder Michele Kang is set to become the sole majority shareholder of Olympique Lyonnais. The American has reached an agreement with Ares, the main creditor of Eagle Football Bidco, and Cork Gully, the liquidator of the holding company that owns around 87 per cent of the club, in order to increase her stake in the Rhône-based club. In doing so, the 67-year-old businesswoman “has committed to injecting up to €71 million (€75m including transaction costs) into the Group” , according to a statement released by OL on Tuesday. However, the finalisation of the deal remains conditional upon Les Rouge et Bleu being cleared to remain in Ligue 1 by the National Directorate for Financial Control (DNCG), France’s financial regulator, whose decision is expected in the coming days. “If the deal goes ahead, Olympique Lyonnais will leave the ‘Eagle Football’ group to revert to OL Groupe as before. The company will remain listed on the stock exchange,” the club also stated. GFFN  |  Léo Aschi