US businessman John Textor completes Lyon takeover

Updated Dec. 19, 2022 2:37 p.m. ET

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LYON, France (AP) — American businessman John Textor completed his takeover of French soccer club Lyon on Monday.

The sale was initially set for September but was pushed back several times.

Under the deal, Textor’s Eagle Football is acquiring a stake of 77.49% in the club. The agreement with Textor’s Eagle Football Holdings provides for a capital increase of 86 million euros ($90 million).

“After four months of constructive negotiations marked by a common understanding with (president) Jean-Michel Aulas and all our partners, we are proud to reach this exceptional agreement," Textor said.

The American businessman made his fortune in digital media. It’s not the first time Textor has ventured into soccer. He also has stakes in Crystal Palace, Belgian second-division club RWD Molenbeek, and Brazilian team Botafogo.

Lyon’s run of titles from 2001-08 made it the powerhouse of French soccer. But after Bordeaux ended Lyon’s run in 2009, the club’s fortunes dipped.

Lyon finished eighth last season, 25 points behind champion Paris Saint-Germain.

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