French giants Lyon kicked out of Ligue 1 over financial issues

FILE - Lyon's soccer club president Jean-Michel Aulas, right, and John Textor, a US digital entrepreneur, left, pose with the Lyon's team jersey after a press conference to announce the Textor's takeover of the club, in Decines, near Lyon, central France, on June 21, 2022. (AP Photo/Laurent Cipriani, File) (Laurent Cipriani/AP)

Seven-time Ligue 1 champions Lyon have been relegated to the second-tier by French football’s financial watchdog, the French professional league (LFP) announced on Tuesday.

During a hearing earlier in the day, Lyon were unable to convince the regulator (DNCG) to lift the restrictions it had put on the club in November.

Lyon can appeal the decision.

Before the meeting, Lyon’s president John Textor said he was confident of avoiding the drop to Ligue 2 for next season, where the club has not played since 1989.

“We have made a variety of investments in recent weeks,” he said. “Everything is good financially.”

American Textor sold his 43 percent stake in Premier League outfit Crystal Palace earlier in the week. Lyon have reduced their salary bill and sold Rayan Cherki to Manchester City and Maxence Caqueret to Como.

Lyon qualified for next season’s Europa League after finishing sixth in the French top-flight.

If their relegation is confirmed, they would be replaced in Ligue 1 by Reims.

Lyon won seven consecutive French titles between 2002 and 2008. Only five clubs have won Ligue 1 more often. Paris Saint-Germain hold the record with 13 titles.