Lyon's relegation to Ligue 2 was reversed by the French football federation following the club's appeal, putting Crystal Palace's Europa League prospects at risk. Initially relegated for financial irregularities, Lyon owes €541 million and needs a €200 million cash injection to stabilize. Following the appeal, club president John Textor was removed from his position, with Michele Kang stepping in. The European football governing body, UEFA, indicated that Lyon would be barred from European competition had the relegation stood.
Lyon appealed their relegation by presenting a new financial plan, risking Crystal Palace's Europa League aspirations. They owe €541 million and need a €200 million cash injection.
John Textor was ousted from Lyon's presidency as the club needed an urgent financial rescue, with Michele Kang assuming leadership amidst ongoing ownership changes.
Lyon faces a daunting financial burden of €541 million, requiring an immediate €100 million cash injection and another €100 million as a guarantee for future financial stability.
The French football federation's decision to overturn Lyon's relegation puts Crystal Palace's potential Europa League participation in jeopardy, highlighting the interconnectedness of club finances.
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