An American investor has been given a deadline to purchase a storied French soccer team.
Olympique Lyonnais has given former FuboTV executive John Textor until Wednesday to reach a final agreement to buy a 66% stake in the Ligue 1 club in a deal that could fetch up to $798.9 million.
- An agreement with Lyon is required to be unconditional and financed.
- The deal would be through Eagle Football Holdings — Textor’s investment vehicle.
- Textor is the co-owner of the Premier League’s Crystal Palace FC.
- He also is the majority owner of Brazilian club Botafogo and Belgium’s RWD Molenbeek.
A final deadline is the byproduct of an arduous sales process between Textor and Lyon.
Textor and Lyon were expected to complete a deal in September but hit a delay. The agreement was postponed again in October as the two parties failed to come to terms despite “substantial progress.”
A sale by current Lyon owner Jean-Michel Aulas may hit another fork in the road as Crystal Palace investors have opposed the deal, which requires their approval.
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Lyon adds to several potential changes in club ownership throughout European soccer.
Fenway Sports Group may explore a partial sale in Liverpool FC as it has yet to receive a “compelling offer.” Liverpool is the fourth-most-valuable soccer team at $4.45 billion, per Forbes.
Manchester United may also be available as its owner the Glazer family — who also own the Tampa Bay Buccaneers — are reportedly looking for more than $7.2 billion for the club.
