Olympique Lyon, a traditional powerhouse in French professional soccer, is set to be taken over by Korean American businessperson Michele Kang.
Olympique Lyon said on the 24th on its website that "Chair Kang has agreed to acquire the club."
According to the club, Eagle Bidco, a major shareholder in Lyon, decided to sell 87.8% equity of its parent company, "Eagle Football Group SA," to Chair Kang. In particular, Chair Kang decided to directly repay the liabilities that existing shareholders owed to key creditors, securing independent operational control.
In addition, once the acquisition is finalized, a total of €75 million (about 132 billion won), including the transaction funds, will be injected into the company. Of this, €31 million will be executed immediately upon completion of the procedures. When the sale process is fully completed, Lyon will break away from the existing structure and return to an independent "OL Group" system, and the leadership of Chair Kang and Director General Michael Gerlinger will remain in place.
Meanwhile, the women's pro team that Chair Kang purchased earlier in early 2024 (Olympique Lyon Féminin) will continue to operate separately as it does now, regardless of this acquisition.
However, for this sale to be finalized, it must receive official approval from the financial watchdog within the French Football Federation (DNCG). There is also a condition that Lyon must secure its place in France's first division (Ligue 1) next season.
Lyon, which set a record with seven consecutive Ligue 1 titles in the early to mid-2000s, suffered from lax fund management after management control passed in 2022 to Eagle Football Group, led by U.S. businessperson John Textor. Last year, the club faced the prospect of relegation to the second division due to severe financial difficulties, but Chair Kang took office, led the review process, and dramatically kept the club in the first division.
Previously, Chair Kang began by purchasing the Washington Spirit in the United States in 2022, then went on to acquire London City Lionesses in the United Kingdom and Lyon's women's team in 2023. In July 2024, she also founded Kyniska Sports International, the world's first women's soccer–focused multi-club corporations. Her standing as a wealthy investor is also solid. According to U.S. business outlet Forbes, Chair Kang's personal asset is estimated at about $1.2 billion (about 1.875 trillion won).