the sale to John Textor postponed again and definitively fixed for November 17

The conclusion of this sale attributed to nearly 800 million euros, first announced for September 30, had been postponed for the first time to October 21.

“Eagle Football has informed OL Groupe that advanced discussions are underway with identified debt and equity investors ready to support the transaction,” the statement said, recalling that the American’s commitments are “not subject to any condition of funding”.

The historic boss of OL, Jean-Michel Aulas had recalled in mid-October that the sale was made “without suspensive conditions”, this inducing sanctions for the buyer in the event of withdrawal. The press release recalls that if one of the steps planned by November 17 is not carried out, this opens the right to termination for the benefit of the selling shareholders.

“Substantial progress has been made at all stages”: with regard to the debt of the Olympique Lyonnais group, “all the lenders have given their consent”, identified investors are “ready to support the transaction” and, in addition to the verifications internal on the lenders, it remains to obtain the authorizations, in particular from the football authorities, specifies the press release.

Through Eagle Football Holdings LLC, John Textor is to acquire all of the shares and half of the Osranes (bonds convertible into shares to finance the construction of Groupama Stadium) held by Holnest – the holding company of the Aulas family -, plus the all of the shares and Osranes held by Pathé (Jérôme Seydoux) and by the Chinese investment fund IDG Capitals.

Holnest holds 27.72% of the capital. Pathé and IDG, which have 19.36% and 19.85% respectively, announced on March 9 that they wanted to sell their shares.

OL Groupe experienced a “clear rebound” in its activity with a turnover up 42% (to 252.5 million euros for the 2021/2022 financial year, which enabled it to raise the bar after a historic loss linked to the Covid-19 pandemic (-107 million) in the previous financial year, even if the outfit still posted a net loss of 55 million euros.

The club is also going through a bad sporting patch, but ended a series of six games without a win on Saturday (5 defeats and a draw) by winning 2-1 in Montpellier and remains eighth, ten points behind Lorient (3rd) and Lens ( 2nd) who occupies the qualifying places for the Champions League, his objective displayed.

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