Olympique Lyonnais could be going public.
Eagle Football Holdings, which is controlled by John Textor, is planning to take the Ligue 1 club public via a SPAC merger at a $1.2 billion valuation. The company completed its purchase of Lyon in December, valuing the club at around $842 million.
Ares Management provided lending for the acquisition, and Iconic Sports Management made a $75 million investment as part of the purchase.
- Iconic’s investment reportedly included an agreement for a potential merger between its blank-check company — Iconic Sports Acquisition Corp — and Eagle Football.
- The transaction isn’t guaranteed, but the Financial Times reported the goal is to go public this year.
Iconic, which raised $345 million when it went public in October 2021, is made up of Milwaukee Bucks co-owner Jamie Dinan, Pisa SC owner Alexander Knaster, former Goldman Sachs trader Edward Eisler, and Tifosy Capital.
Multi-Club Mania
Eagle Football Holdings also owns Belgian second-tier club RWD Molenbeek, Brazil’s Botafogo, and a stake in the Premier League’s Crystal Palace.
There are now more than 70 multi-club ownership groups — including City Football Group, Qatar Sports Investments, and RedBird Capital — but this would reportedly be the first such group to go public.
![[Subscription Customers Only] Jun 15, 2025; Seattle, Washington, USA; Botafogo owner John Textor inside the stadium before the match during a group stage match of the 2025 FIFA Club World Cup at Lumen Field.](https://frontofficesports.com/wp-content/uploads/2026/02/USATSI_26465842_168416386_lowres-scaled.jpg?quality=80&w=1024)
