Removed from operational control last summer, John Textor now has no further involvement with Olympique Lyonnais. This is because the holding company he previously owned, Eagle Bidco – the club’s main shareholder – has been taken over by an insolvency practitioner, the British firm Cork Gully. And the American businessman is not taking it well…
It’s a rough patch for John Textor. Sidelined from Olympique Lyonnais’s operational management last summer, the businessman had until now remained the boss of Eagle Bidco, which holds 85% of the Rhône-based club’s capital.
This is no longer the case, as the holding company, facing proceedings related to financial irregularities, has been taken over by an insolvency practitioner, the firm Cork Gully. This has effectively led to the suspension of the American’s powers.
Textor is angry with Ares
And it would be an understatement to say that Jean-Michel Aulas’s successor, since replaced by Michele Kang, did not take kindly to this. In a statement released on Saturday via Eagle Football Holdings, the former OL boss denounced a “unilateral and predatory” decision by the Ares fund, Eagle Bidco’s main creditor, accusing it of seeking to “dismantle a financially viable multi-club enterprise” and, according to him, on track to become “cash-flow positive in 2026 and beyond”.
Textor also accused Ares of having taken control of OL ‘in secret’ when he was ousted from operational control in 2025, via a ‘shadow board’, at a time when – it should be remembered – the club, currently fourth in Ligue 1, was facing the risk of administrative relegation to Ligue 2. The American intends to challenge all this in court, as he wishes to regain control of Eagle Bidco. And a question arises: could all these behind-the-scenes manoeuvres have an impact on the French club?
No impact on OL?
At first glance, no. “Day-to-day operations, matches and sporting activities are continuing as normal. The administration procedure aims to provide an orderly framework to preserve the value (of the holding company) and ensure continuity, not to disrupt the clubs or their supporters,” explained Cork Gully on Friday, who may, however, eventually sell his shares to Ares and Michele Kang, the current president, in the future.
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