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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.
Hot Commodity
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.
