Eagle confirms John Textor is no longer a director | OneFootball

Eagle Football Holdings Bidco said in a legal filing on Tuesday that John Textor is no longer a director after last month’s failed coup attempt. The development is likely to be welcomed by supporters of OL, and by Molenbeek and a significant section of Botafogo.

It specified that Textor was removed on 27 January, a few hours before the general meeting of Eagle Football Group (ex-OL Groupe), when he sought to regain control.

After attempting to revoke two independent directors with his lawyers, the American saw his plan blocked by Michele Kang and Ares Management. The creditor then notified him of his immediate departure.

For the past two weeks, the investment fund, which lent him €425m to buy OL, has been demanding repayment of €250m still owed. The sale of Eagle’s stake in Crystal Palace previously returned €175m to Ares.

Eagle Football Holdings Bidco is the vehicle that holds the shares and legal rights across the multi-club group. The legal and communications battles are unlikely to be over, but the trajectory points towards the end of the Floridian’s stint in football.

Source: Le Progres