Michele Kang takeover of OL confirmed, subject to DNCG Ligue 1 ruling | OneFootball

Michele Kang has agreed a deal to take control of Olympique Lyonnais’s parent company, but completion depends on the DNCG confirming the club’s Ligue 1 status for 2026/27.

News of the move emerged on Monday night, the day before the club’s DNCG hearing, and was confirmed on Tuesday afternoon. Eagle Football Group said in a statement that Eagle Bidco, which is in administration and represented by Cork Gully, had reached agreement with Kang. The statement described her involvement as a responsibility and an honour, with aims to rebuild and restore confidence.

The agreement covers the purchase of Eagle Bidco’s entire stake for $30m, equating to about $0.1943 per share and 87.78% of Eagle Football Group. The buyer is an entity indirectly wholly owned by Kang, the company’s current chair and chief executive, within Eagle Bidco’s English-law administration.

The new shareholder has committed up to €71m in fresh funds over the next two seasons, or €75m including transaction costs, with an initial €31m available at completion. OL Group would be released from commitments to other Eagle Football affiliates, and its RCF/TL and FCT PIK facilities would be rescheduled, with lenders granting certain accommodations over the next 18 months subject to closing.

Closing also depends on other steps expected to be satisfied by 30 June 2026. If completed, OL would exit Eagle Football, revert to OL Groupe as before and remain listed. Kang would continue as president and Michael Gerlinger as chief executive.

Source: Le Progres