Olympique Lyonnais has successfully appealed against its potential relegation to Ligue 2. The club`s case was presented before the DNCG (Direction Nationale du Contrôle de Gestion), the French football financial regulator, appeal committee on Wednesday. Newly appointed president Michele Kang and Lyon executive Michael Gerlinger were key figures in reversing the initial decision that could have sent Les Gones down to the second tier of French football.
During a press conference held at Groupama Stadium last night, Michele Kang detailed the measures taken to satisfy the DNCG`s requirements. She explained, “It concerned the available cash flow, new liquidity contributions, and guarantees provided in case our cash flow became negative. Based on these three components, we have met their requirements.”
According to a report by French sports daily L`Equipe, Lyon`s ownership and shareholders committed a total of €124 million to avert the financially damaging demotion to Ligue 2. This substantial figure comprises a direct cash injection of €87 million and an additional €37 million in financial guarantees. L`Equipe further reported that Kang and Gerlinger were able to demonstrate to the DNCG that the funds underpinning Lyon`s budget were “tangible,” a crucial point of difference compared to former president John Textor`s previous submissions, which reportedly included letters of intent rather than immediate financial proof.
