Lyon sale delayed until 17th November

According to L’Équipe, the sale of Olympique Lyonnais has been delayed once more until 17th November.

A joint statement from OL Groupe, Holnest (Jean-Michel Aulas’ family holding company), IDG Capital (the Chinese investors selling their shares), Pathé and Eagle Football (John Textor’s company) announced on Monday morning a new deadline for the sale of Olympique Lyonnais: all parties have agreed on a “new completion date of 17 November”. The statement also said: “To date, substantial progress has been made on all the steps that are necessary to complete the transaction.

As announced in recent days, this new delay is explained by “the finalisation by Eagle Football of the detailed documentation with the usual authorisations (notably from the football authorities) and the internal verification procedures of the lenders of the OL group“.

Essentially, this means that the sale remains subject to the procedures for identifying the origin of the funds and the investors. After 30 September and 21 October, 17 November is the third date set for the sale, while OL Groupe’s listing was suspended on 19 October.

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