John Textor has resigned from his leadership role at Lyon while holding a 77% stake through Eagle Football Group. Lyon's demotion to Ligue 2 was due to poor finances and a 418 million debt. Textor plans to step away from day-to-day operations, with Michele Kang becoming chairwoman. Despite stepping down, he will remain a co-owner. His involvement with Lyon has complicated Crystal Palace's ambitions for playing in the Europa League, as UEFA rules restrict multiple teams under the same ownership from competing in the same tournament.
"I am extremely proud of our sporting success at OL [Olympique Lyonnais], having successfully rebuilt the squad, returning to European competition in each of the last two years, after a long absence."
"I have not been so good at the politics of France" after reporting debt of 418m in 2024, adding it was time for a change of leadership.
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