John Textor eyeing up Wolves takeover after stepping down as Lyon president | OneFootball

According to a report from The Athletic, Lyon owner John Textor is planning a potential takeover of Premier League club Wolverhampton Wanderers. The American businessman has desired to become the majority shareholder of an English club after he sold his shares in Crystal Palace. 

It was a tumultuous summer for the Eagle Football Group CEO. In addition to selling his shares in the East London outfit, he was forced to step down as president of OL after failing to convince the DNCG that he had a structured financial plan to avoid Lyon from further financial trouble. The financial watchdog deemed his plans insufficient and confirmed Les Gones’ relegation to Ligue 2. His replacement, Michelle Kang, was successful in keeping the Rhone club in the first division on appeal. 

Textor submits £400m Wolves offer

The Botafogo owner has submitted an official offer of £400m to takeover the West Midlands club, The Athletic understands. However, Textor’s bid is unlikely to be successful. The American wants to float Eagle on the stock exchange without Lyon, but wants to add an English club to his roster. Nevertheless, Fosun who currently own Wolves, are only looking to sell a minority stake and are not interested in acquiring stakes in Eagles Football Group. 

GFFN | Liam Wraith