The sale of a Ligue 1 team is coming down to the wire, as its prospective buyer scrambles for funds.
John Textor is looking for tens of millions of dollars to complete his purchase of a majority stake in Lyon.
- Textor agreed to buy around 66% of the club for $798.9 million, taking on the shares of film production company Pathé, investment firm IDG Capital, and the majority of those held by Lyon president Jean-Michel Aulas’ holding company Holnest.
- The former executive chair and CEO of fuboTV has sought to build a mutually beneficial network of soccer teams. He holds a roughly 40% stake in the Premier League’s Crystal Palace FC, 80% of Belgium’s RWD Molenbeek, and a 90% stake in Brazil’s Botafogo.
- His bid for Lyon is backed by Cannae Holdings, controlled by Vegas Golden Knights owner Bill Foley.
Textor’s team holdings are held by his company Eagle Football Holdings, which incorporated in January. Should he purchase Lyon, his soccer holdings would total around $1 billion in value.
Tapping the Network
Textor is reportedly working his connections to come up with several tens of millions of dollars before the sale deadline in two weeks.
Prior to helming Fubo (formerly FaceBank Group), Textor founded Wyndcrest Holdings, a technology and entertainment-focused investment firm.