French Ligue 1 top side Lyon is at the verge of being demoted to the Ligue 2 if their finance continues going down. The owner of the club John Textor who is also co-owner of English Premier League side Crystal Palace, and the largest shareholder of Brazilian club Botafogo announced his debt of recent and it distrubing.
According to reports, his Eagle Football Group recently announced debts of £422m. The DNGC, the body which oversees the accounts of French professional football clubs has said the club made be domited to Ligue 2 following the debt.
Lyon will also have their payroll supervised by the DNGC. The seven-time French champions are likely to sell most of their key players in January to get their accounts in order and maintain their top-flight status.
American Textor could reportedly help manage the debt by selling his stake in Crystal Palace, or selling Botafogo players to help Lyon. Lyon are fifth in Ligue 1 and ninth in the Europa League and all these could be waste if he dose not fast.
