Lyon’s owner denies €100 million target for transfers

Olympique Lyonnais are not required to sell players for €100 million (S$145.6 million) before the summer transfer window ends, the French club’s owner John Textor said on Saturday.

“We do not have sales targets, and we are not required to sell €100 million of players as there may be other ways to bring in revenues to maintain financial sustainability,” he told Reuters.

On Thursday, the French newspaper L’Equipe reported that Lyon had put the majority of their squad on the transfer market to raise €75 million to balance their budget and meet financial sales targets.

Lyon have spent around €134 million since June, more than any other team in France.

Textor is the majority stakeholder of Olympique Lyonnais through Eagle Football Group, a holding company listed in Paris. The French side was acquired by Eagle Football in 2022, which holds 87.7 per cent of the share capital.

The group posted a yearly revenue of €368.3 million in June, an increase of 78 per cent from the previous year, helped by events and an uptick in player trading.

Textor also said that they expect to sell maybe two more players before the transfer window closes on Friday, acknowledging that it's been a slow window in that regard and that Lyon may have missed their normal budget in the off-season.

“That’s certainly true, but that does not mean that we are required to hit that budget. If it’s a slow transfer window, then we hold players until the next window. It’s as simple as that," he added.

The American businessman, who partly owns Botafogo in Brazil, RVD Molenbeek in Belgium and Crystal Palace in England, indicated that there is always "flexibility in how to create cash flows".

"Every company in France has the same challenge. At the end of the year, negative equity has to be restored. It’s no different in football," he said. REUTERS