The president of Olympique Lyonnais, John Textor, pushed a big rant against the financial policeman of French football.
The DNCG appeal commission delivered its verdict on Tuesday. And the latter confirmed the sanctions taken against Olympique Lyonnais on July 4th. The Rhone club will thus undergo a “supervision of the wage bill and transfer allowances” during this summer transfer window. A sentence that is not to the taste of the president of Les Gones, John Textor. In a press release posted on his personal website, the American leader severely questioned the decision of the Federal Club Control Commission.
OL is bound hand and foot
” Welcome in France… “the 57-year-old former businessman first wrote. “In addition to the presentation of our budget and our business strategy, the management of OL Groupe also provided new elements, as previously requested by the DNCG, providing proof of funds showing a deposit of 60 million euros, as the main shareholder of Eagle Football, in a special purpose account to be used exclusively for the additional working capital support of OL Groupe. We do not believe this sum should be necessary, but it has been set aside, out of respect for the DNCG, as additional assurance that OL Groupe is well capitalized, even under the most conservative projection scenarios. »
“Despite a complete presentation of all the above, including important new elements such as proof of funds corresponding to the amount of 60 million euros requested by the DNCG… it was still not enough. The Appeal Board has decided to uphold the DNCG’s decision to limit the freedom of the new owners in managing their football operations. We have been invited to buy one of the real treasures of football in France. We were asked to pay almost 400 million euros in cash to its long-standing shareholders, to pay 65 million euros in cash to its public shareholders, to reduce bank debt by 50 million euros, and then to fund an additional €60 million in cash (on short notice) just for good measure… but we are not yet being asked to execute a business plan based on our beliefs, with a free hand, for the benefit of the community that we serve. Once again, welcome to football in France! »
