July 23, 2025
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Impromptu Response to Comments by DNCG Chairman to RMC Sport
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To the Supporters of football in France:
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As has been clear by my silence over the last several weeks, I have refrained from engagement in the public discourse over how our great club could have been relegated, so that we would have the best chance to reverse one of the most extreme acts of governing body intervention in the history of European football. I have governed myself to ignore the mountain of inaccuracies that have surrounded this story, even when such inaccuracies challenged my character and my integrity, as I have always known that the truth of our shared story would ultimately be seen in black-and-white, and not in the ill-informed words of social media and opportunistic journalism.
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I remain committed to the change of leadership at OL, versions of which I had even proposed internally, well before June 24. It had been clear for quite some time, since my termination of our former leader, that I would face continuous challenges of acceptance of my controversial assumption of leadership at OL, and that this consistent and aggressive undercurrent of opposition would forever be a problem for our club and its supporters.
Additionally, entirely of my doing, at the governance discussions headed by the French Football Federation, I was a clear advocate for reform, recommending a change to a Premier League model of commercially logical corporate governance that would increase the international viability and revenues of French Football. In these panel discussions, I openly questioned the role of the DNCG, a subjective panel of volunteer business people, suggesting its replacement by a set of clear black-and-white rules that followed universally accepted accounting principles, just as we see in the most commercially successful league in the world.
Of course, in retrospect, this was a huge mistake, to believe that this FFF forum was truly a discussion about beneficial reforms. The idea that I would advance the idea of the abolition and replacement of the DNCG, when our club was (wrongfully) in such a precarious position with that same body, was just reckless. I never imagined that the DNCG would depart so materially from accepted principles of "going concern" and sustainability analysis, to render one of the most punitive opinions on the community of Lyon, largely (I believe) to serve the protectionist interests of individuals and force a change in leadership at our club. The Chairman, in his interview, almost says the same thing, that relegation was necessary to change our business model and our leadership. Same ownership, different leadership, that he (Jean-Marc Mickeler) could "trust", as the single most important figure in French football - a DNCG chairman that now justifies the relegation a club and its community, based on his personal feeling of 'trust'.
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In response to the Chairman's interview with RMC, my Instagram comments remain accurate:
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"Revisionist history to justify the punishment of a community, just to satisfy the egos of men. The Chairman uses the unchecked power of the DNCG, to force the change of leadership of a club, discarding reliable and contractually secure cash flows, to impose his personal views of financial sustainability.
Fact: May 20, after seeing our plan, he said "relegation is off the table...50M is an Ask, but not a requirement"
June 24: He counts 240M of reliable cash flow as 'zero' and says we should be relegated.
I was not removed. I resigned for the good of the club, because the message was clear. The chairman, and his friends, wanted the reformist Cowboy removed and there was nothing else I could do to stop their barbaric sacrifice of the community of Lyon. Speaking only for myself, Supporters of OL C should know that your club was always sustainable, and the shareholders of Eagle were always there, it our multi-club business cash flows were insufficient. In the end, as I am an advocate for reform, in front of governing bodies that do not want reform, the leadership change is very good for OL - and your club remains in very good hands."
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Of course, the comments above require a bit of math to justify, and I am sure the math of our original DNCG submission will become transparent in time...but in short, it cannot be possible to be given a 'green light' on May 20, followed by the most extreme of punishments on June 24.
Contrary to principles of 'going concern assessments', the auditors of the DNCG broke from universally accepted audit standards with the arbitrary invalidation of 70M Euros of contracted revenues, 120M Euros of historically proven cashflows from Eagle/Botafogo, 100M Euros of recurring player transfer revenues, 55M Euros of commitment letters of support from respected shareholders, 40M of promised reserves from the sale of Crystal Palace...even the mid-June addition of 55M Euros of cash from a one-time cash injection and the sale of a key player. There is simply no way, in any country, or in any IFRS or GAAP audit, that an auditor would not 'clear' through a 'going concern analysis' with such obviously accessible cash flows.
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If this was truly about 'trust', then it appears (ironically) that we should have always been trusted - because I promised that the principal shareholder, Eagle Football Holdings, would always be able to support the sustainability of Olympique Lyonnais. I promised that the shareholders of Eagle always had the capacity to stand in support, as their commitment letters demonstrated - an in the end, those same promised came true, and Eagle Football Holdings funded the promised funds to win the appeal.
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Promise made, promise kept - Same shareholders, different leadership -
and that's the Truth of what ultimately satisfied the DNCG
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June 30, 2025
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FOR IMMEDIATE RELEASE​
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Eagle Football Chairman John Textor Congratulates Olympique Lyonnais on
Qualification for Ligue 1 and UEFA Europa League
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Palm Beach Gardens, Florida, USA: John Textor, Chairman and CEO of Eagle Football Holdings, today issued the following statement in response to the decision by the French Football Federation (FFF) to uphold Olympique Lyonnais’s (OL) appeal, reversing the earlier decision of the DNCG, and confirming OL’s participation in Ligue 1 and UEFA Europa League:
John Textor, Chairman and majority owner of Eagle Football Holdings, stated: “I would like to congratulate our whole team at Olympique Lyonnais for demonstrating clearly what we have long known, that our great club in Lyon is financially strong and ready to continue its climb up the tables in France and in Europe. We previously cleared through a rigorous sustainability review by UEFA, and now, under the remarkable leadership of our Chair Michele Kang, OL has succeeded on appeal, in cooperation with the DNCG, to confirm our place in Ligue 1 and in Europa League.”
He continued, “Today’s decision is a vital recognition not only of the club’s current sporting and financial strength, but also of the commitment demonstrated by our shareholders and our leadership team in Lyon, led by Michele Kang. I want to thank Michele, and the incredible legal and financial professionals who represented us with integrity and fortitude, under very difficult circumstances. Lastly, I would like to thank our supporters for their undying love for this great club. These were unbelievably painful days and I am so happy for you that the dark clouds have parted and the light is shining brightly again in Lyon. Allez l’OL!!!”
About Eagle Football Holdings Limited
INSPIRED BY FOOTBALL, DRIVEN BY FOOTBALL…MUCH MORE THAN FOOTBALL
Eagle Football is a sports, entertainment and technology company that engages with a global audience through its portfolio of interests in iconic football clubs and related assets around the world. Eagle Football is the leading shareholder of SAF Botafogo (reigning champion of Brazil and South America), Olympique Lyonnais (historic multi-year champion of France), Crystal Palace Football Club (2025 FA Cup Champion), and RWDM Brussels.
Fueled by our portfolio of iconic football clubs, our passionate, global audience, and our position as a preferred destination for players—our goal is to build the leading football-related enterprise on Earth. We operate on the belief that the audience of a club is always more valuable than the club, and our scalable entertainment and technology strategies are designed to maximize our total addressable market opportunity, far beyond the reach of typical football clubs. Our mission is to create value for our shareholders by being a champion for our players, our clubs, our fans and our communities, and the
magnificent game of football.
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About Eagle Football Holdings Limited
INSPIRED BY FOOTBALL, DRIVEN BY FOOTBALL…MUCH MORE THAN FOOTBALL
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Eagle Football is a sports, entertainment and technology company that engages with a global audience through its portfolio of interests in iconic football clubs and related assets around the world. Eagle Football is the leading shareholder of SAF Botafogo (reigning champion of Brazil and South America), Olympique Lyonnais (historic multi-year champion
of France), Crystal Palace Football Club (2025 FA Cup Champion), and Daring Brussels.
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Fueled by our portfolio of iconic football clubs, our passionate, global audience, and our position as a preferred destination for players—our goal is to build the leading football related enterprise on Earth. We operate on the belief that the audience of a club is always more valuable than the club, and our scalable entertainment and technology strategies are designed to maximize our total addressable market opportunity, far beyond the reach of typical football clubs. Our mission is to create value for our shareholders by being a champion for our players, our clubs, our fans and our communities, and the magnificent game of football.
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Inquiries:
Eagle Football Holdings Limited