Seven-time French champions Lyon have been relegated to Ligue 2 by the French football league’s financial oversight body after failing to resolve financial concerns raised last November. The decision was announced on Tuesday by the French professional league (LFP) following a hearing in which Lyon could not persuade the regulator, the DNCG, to lift restrictions placed on the club.
Lyon’s president, John Textor, had earlier expressed confidence that the club would avoid relegation. He pointed to recent investments and financial moves as proof of the club’s stability. Textor, an American businessman, had also sold his 43% stake in Premier League side Crystal Palace just days earlier. The club reportedly cut its wage bill and transferred players Rayan Cherki to Manchester City and Maxence Caqueret to Como.
Despite finishing sixth in Ligue 1 and earning a spot in next season’s Europa League, Lyon may now lose their place in France’s top tier for the first time since 1989. If the relegation stands, Reims would take their spot in Ligue 1.
Lyon dominated French football in the early 2000s, winning seven consecutive league titles from 2002 to 2008. Only five clubs have claimed more Ligue 1 titles, with Paris Saint-Germain leading at 13. The club still has the option to appeal the decision.
