John Textor is reportedly having trouble securing financing to acquire Ligue 1’s Olympique Lyonnais — but that could change soon.
Ares Management is reportedly in talks to back Textor’s bid for Lyon owner OL Groupe SA.
Textor, who is also an owner of Crystal Palace, previously agreed to buy around 66% of the club by purchasing shares from film production company Pathé, investment firm IDG Capital, and Lyon president Jean-Michel Aulas’ holding company Holnest.
The deal would reportedly value the team at $842 million.
- Foley’s Cannae Holdings signed a letter of intent in June to provide a credit facility for the Lyon transaction, which could have been converted into equity.
- Foley is reportedly interested in Premier League club AFC Bournemouth.
In its last two fiscal years, OL has reported a combined $144 million loss and has a net debt of $291 million.
Should Textor’s purchase of Lyon go through, his soccer holdings would total around $1 billion.
Ares Management recently announced it raised $3.7 billion in capital to invest in sports, media, and entertainment companies. It has already committed roughly $1 billion to 19 sports businesses around the world, including Atletico Madrid and Inter Miami CF.