Serge Chiesa, Bernard Lacombe, Sonny Anderson and so many others, OL, one of the biggest clubs in the history of French football, will go under the “American flag” in a few weeks. The acquisition by the American billionaire John Textor of almost all the shares of OL Groupe, the holding company which oversees Olympique Lyonnais (Ligue 1), will be formalized on October 21, announced Friday the group of Jean-Michel Aulas in a statement. OL Groupe, which announced on Friday morning the postponement of the formalization of this sale – initially expected for September 30 – announced in the evening that the parties had agreed “by way of amendment to their agreements”, to finalize the transaction on October 21. This takeover is valued at nearly 800 million euros.
Several investors
Through Eagle Football Holdings LLC, John Textor is to acquire all of the shares and half of the Osranes (bonds convertible into shares to finance the construction of the Groupama stadium) held by Holnest -the holding company of the Aulas family-, plus the all shares and Osranes held by Pathé (Jérôme Seydoux) and the Chinese investment fund IDG Capitals.
Holnest holds 27.72% of the capital. Pathé and IDG, which have 19.36% and 19.85% respectively, announced on March 9 that they wanted to sell their shares by mandating the Raine bank to do so. However, to finance the operation, Textor, which must initially take 79% of the shares against 8% for Holnest, is not coming alone. The American businessman relied on investors like James Salter (owner of around thirty brands like Reebok and Sports illustrated) and Bill Foley (owner of the Las Vegas ice hockey club). John Textor is already present in the capital of the London club Crystal Palace and majority shareholder of Botafogo, in Brazil, and RWD Molenbeek (2nd Belgian div.).
Recent doubts had been raised in the media, especially after Foley’s share of financing was refused by the banks. But a very powerful new investor has entered into the takeover. This is Ares Credit Group, one of the four units of the American alternative investment company Ares Management Corporation, which in 2021 took a stake in Atlético Madrid.
“We must not let people think that things could not be done. The signed agreement is a firm agreement without condition precedent from the beginning. (…) Nothing raises questions, ”repeated Jean-Michel Aulas in an interview with the Team on September 20.
Increase in capital
The agreement also provides for a capital increase of 86 million euros intended for debt reduction and, for another part, for the sports sector, recorded by the EGM in July. Subsequently, Eagle Football and Holnest, which would ultimately remain the only two shareholders of OL Groupe, will launch a takeover bid by November on the remaining shares at a price of three euros per share and 265.57 euros per Osrane.
At the end of the process, OL, seven times champion of France, will become the eleventh French club bought by a foreign investor, even if Jean-Michel Aulas, at the head of the club since 1987, will remain executive president within the framework of a contract of three years. A flagship of spectator sports in France, OL Groupe controls OL’s women’s and men’s teams, the American women’s football club OL Reign and a third of the capital of the Asvel Lyon-Villeurbanne basketball club.
The company owns the Groupama Stadium and is involved in the construction of a 12,000-seat multi-purpose Arena on the OL Vallée site, the inauguration of which is scheduled for the fall of 2023.
(With AFP)
