An American investor is one step closer to a takeover deal for a top French soccer club.
Former FuboTV executive John Textor has given Ligue 1’s Olympique Lyonnais assurance that he will complete a deal for the club after being given a Dec. 7 deadline to reach a final agreement.
- The pending deal will be through Textor’s investment vehicle, Eagle Football Holdings.
- EFH will pay $344.2 million for 39.2 million shares and 789,824 subordinated bonds.
- The company will submit a tender offer for Lyon’s remaining shares.
- A finalized deal would value Lyon at roughly $842 million.
Textor and Lyon were expected to complete a deal earlier this year but hit a series of snags.
In September, the deal was delayed over financing, and a month later it was postponed again as the two parties failed to reach a deal despite “substantial progress” in initial negotiations.
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A deal for Lyon would add to a growing portfolio of soccer-related investments for Textor.
He is the majority owner of Brazilian club Botafogo and Belgium’s RWD Molenbeek, as well as the co-owner of the Premier League’s Crystal Palace. The club’s investors had attempted to block Textor’s deal for Lyon as they questioned personnel changes to EFH’s ownership group.
A completed acquisition of Lyon would give Textor’s soccer holdings a roughly $1 billion value.
