The French Football Federation (FFF) has confirmed that Olympique Lyonnais will continue to play in Ligue 1 after confirmation that their appeal against relegation was successful.
The club, which had been demoted by the financial watchdog of French football last month due to budget issues that have not been resolved, nevertheless, secured the UEFA Europa League for French football by finishing sixth last season in Ligue 1.
The appeal decision was reached just after Michele Kang became the new club president, replacing her fellow American, John Textor. Kang who is already the president of the women’s team of Lyon will be the second-largest shareholder and is thus on the way to leading the rebuilding of the club.
Lyon needs to reduce its wage bill and transfer budget according to the FFF statement for the next season.
The club has also made some financial decisions, letting go of veteran players like Alexandre Lacazette and Anthony Lopes, at the same time, they sell Rayan Cherki to Manchester City and Maxence Caqueret to Como. To help the club stabilize its finances, Textor’s Eagle Football group has injected €83 million.
Seven-time French champions Lyon have described the move as “the first step of re-establishing trust.” The club agreed to pay the UEFA fine, however, they will still be in the Europa League.
Lyon season kicks off with a match at Lens between August 15 and 17.
