John Textor’s battle with Ares and Michele Kang over OL explained | OneFootball

John Textor has been removed from the holding that controls OL, deepening a power struggle with creditors Ares and Michele Kang amid financial urgency.

Announced on Friday evening, his ousting from Eagle Bidco, which owns 85% of OL, marks a turning point. According to L'Équipe, the governance fight is now open.

A board meeting not disclosed to all shareholders is being challenged as questionable and potentially fragile. It came amid absolute urgency, after last summer’s threat of administrative relegation when creditors judged Textor unable to stay in charge.

The goal was to regain operational control and secure the immediate future. Not every shareholder was told, yet none sought collapse, and the AMF did not object.

In the short term, the club should not face direct consequences. Eagle Bidco is under Cork Gully’s administration to stabilise the structure, operations continue, governance is unchanged and financial commitments are met.

Momentum now favours the creditors, and if the standoff persists a more direct takeover could become credible, even logical.

Textor contests the method, calling it opportunistic and predatory. The outcome depends on whose vision prevails, and OL face an off-pitch battle set to affect them in the coming months.

Source: L'Équipe