John Textor’s Lyon takeover delayed to October 21

Le Parisien report that the sale of a majority stake in Lyon to American businessman John Textor has been delayed to October 21, despite reports earlier in the week indicating the deal would be confirmed by this past Friday.

A statement released by the club’s parent company via AFP has stated that there were still a few technical aspects to overcome, and that the extra time would be used to finalise legal documents and iron out the final details before the operation is completed.

Textor’s takeover will involve buying all of the shares held by Pathé (19.26%) and IDG (19,74%) as well as those held by Holnest, the Aulas family’s holding,  set at 27.56%.

The sale was initially set for September 30 after Textor brought on board a new financial partner who, after a set of Jean-Michel Aulas-led negotiations, satisfied the club’s creditors, who hold Lyon’s €330m debt. They had previously thrown a spanner in the works over a previous investor.

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