Former Champions League giants ‘provisionally RELEGATED’ from top flight if they can’t clear £422MILLION debt

ONCE Champions League giants Lyon have been provisionally relegated from Ligue 1. The French side can't clear their rising £422MILLION debt and have now been banned from signing players in January. Lyon will lose their top-flight status at the end of the season unless they improve their situation and avoid going into administration.

Crystal Palace co-owner John Textor majority owns Lyon through Eagle Football Holdings. He insisted a meeting with France 's National Directorate of Control and Management (DNGC) "went well", but the watchdog seems to have disagreed. French journalist Romain Molina has also claimed that "all Lyon players are on sale" in a bid to reduce the club's debts.



READ MORE FOOTBALL NEWS Les Gones have been losing money year-on-year and their financial model is based on consistent Champions League qualification. They have not been in Europe's elite competition since the 2019-20 season, when a side inspired by Memphis Depay and Bruno Guimaraes reached the semi-finals. But if Ligue 1 indeed goes through with their relegation, they'll be unable to qualify for any European competition until the club's promoted again.

They have also lost control of their payroll as it will be supervised by the DNGC, with many former Premier League stars calling Lyon home. Most read in Football FOOTBALL FREE BETS AND SIGN UP DEALS Their squad boasts former Palace ace Wilfried Zaha , ex-Man Utd midfielder Nemanja Matic , old West Ham forward Said Benrahma, and former Aston Villa star Jordan Veretout. Ex- Arsenal star Alexandre Lacazette also captains the side, with Ainsley Maitland-Niles joining last summer.

The relegation would mark another hammer blow for French football after Bordeaux were demoted to the fourth tier due to bankruptcy this summer. But that was before former Prem star Andy Carroll joined Bordeaux after being let go by Reading. Carroll is set to divorce from his Towie star wife Billi Mucklow after two turbulent years of marriage.

The Eagle Football Group portfolio owns stakes in Lyon, Palace, Botafogo of Brazil, FC Florida, and RWD Molenbeek in Belgium . Textor believes that selling players from Botafogo and the 45 per cent stake in Palace could help balance the books for Lyon, as per L'Equipe But the American business tycoon is eyeing a takeover at Everton after all is said and done. READ MORE SUN STORIES Many clubs in France are struggling off the back of the Covid-19 pandemic and drastically decreasing TV rights revenue.

Lyon, who sit fifth in Ligue 1 managed by relative newcomer Pierre Sage, are in the Europa League this season and do have lots of players they could offload. I was West Ham captain but I almost went to jail over bankruptcy I'm a former Man Utd star and I once stole a girl from Ronaldo I'm an ex-Man Utd star - now I own a dog-themed B&B I was Thierry Henry's toughest opponent but quit to become a pastor I’m a former Wolves striker but I left football behind to become a vicar.