Ares and Bidco commitments cover Michele Kang until June 2027 | OneFootball

Eagle Football Group, which manages OL, said in a statement that an agreement with Ares sets protections over its governance. It includes a commitment not to start any sale process before 30 June 2026 and not to take action to remove Michele Kang as EFG chief executive before 30 June 2027.

The statement, issued on Tuesday evening, followed remarks by former president John Textor and information filed with the AMF. It sought to clarify the scope of the 7 July 2025 agreement between Ares Capital Corporation and Michele Kang as creditors and stakeholders of Eagle Football Holdings Bidco Limited.

On 24 June 2025 the DNCG imposed administrative relegation. EFG then obtained additional financing of €87m, provided mainly by existing bondholders and Michele Kang through Eagle Bidco, plus a €30m bank guarantee backed by Kang. This financial strengthening, together with a change in governance, persuaded the DNCG to reverse its decision.

Also included is a pledge from Ares not to enforce any security over shares in EFG or its subsidiaries before 30 June 2026.

With Ares having removed John Textor from Eagle Bidco’s board and as he faces difficulties at Botafogo, the Lyon communication underlines the stability of EFG’s board and Kang’s position, at least until June.

Source: Le Progres