John Textor, the American businessman with stakes in both Crystal Palace and French club Olympique Lyonnais, has announced his resignation from leadership roles at Lyon. He sold his interest in Crystal Palace to Woody Johnson, the currently serving owner of the New York Jets. This decision comes on the heels of that sale. Textor’s departure from Lyon marks a significant shift in his focus towards new opportunities in England, hinting at potential involvement with another club.
Textor assumed control of Olympique Lyonnais from longtime president Jean-Michel Aulas. Now he is up against it as the club has been hit hard by financial troubles. Olympique Lyonnais were given provisional relegation from the DNCG, the French football financial regulator. This extreme measure was taken due to their shocking level of debt of approximately £200 million. The DNCG ruled that the club needed to correct its financial position between November and June to prevent any further relegation.
Aulas, long the central figure of Lyon’s history, has passed ownership. It is true that he’d led the club to seven straight league titles and a semi-final in the Champions League, that made the sudden switch all the more shocking. Textor’s cavalier attitude toward the criticism has drawn the ire of critics, whose focus on the current state of the club is an indictment of his leadership.
“It’s awful,” said one expert about the state of affairs. “Since John Textor took over and bought the club from Jean-Michel Aulas… to this now, to being relegated to the second tier in France.”
By the time this latest blowup happened, public criticism was already mounting over Textor’s pattern of meddling in club management. In particular, observers pointed out how his lavish spending and poor managerial choices created a turbulent environment at Olympique Lyonnais. “John Textor’s made this club a mess. There’s no other way of putting it,” one commentator stated.
Textor revealed his intention to reduce his day-to-day direction of operations in Europe. For him, he’d like to go deep on some clubs where he is allowed to own the whole thing and do whatever he wants. He is a shareholder in Botafogo and Daring Brussels. This underscores his commitment to act boldly in markets and carry out his vision without limits.
“I am extremely proud of the global sporting successes of Eagle Football, with historic championships, cup wins, and tournament qualifications in Brazil, France, and England,” Textor commented. “It’s clear that we must make changes in our management approach if we expect to be as effective off the pitch as we are on the pitch.”
His departure might allow the Reds to qualify for next year’s Europa League, should Olympique Lyonnais be relegated at long last. The ramifications of this dangerous proposal expose the real cost and consequences of the ownership and competition in football club ownership.
Textor has suggested the possibility of further investments in England after his departure from Crystal Palace. He stated that he looks forward to “investing, innovating, growing, and competing in markets with full freedom.” He is looking forward to making the most of his experience and resources. His ultimate aim for the club will be to bring a more long-term security to the City project.
As Olympique Lyonnais appeals its relegation decision, the club faces an uncertain future while attempting to navigate its financial challenges. The next few months will be make-or-break for Textor’s old club. Equally, they’re committed to fighting their way back up the pecking order in French football while still suffering the effects of their previous financial shambles.
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