French football club Lyon has been relegated to Ligue 2 due to ongoing financial difficulties.
Gatekeepers News reports that the decision was confirmed by the DNCG, the French body responsible for overseeing the financial health of professional football clubs.
Lyon’s debts stood at £422m last October, prompting concerns from the governing body. Despite recent efforts to raise funds through player sales, including the £45m earned from selling Maxence Caqueret to Como and Rayan Cherki to Manchester City, the club’s financial future remains precarious.
The club, which has won seven Ligue 1 titles, including a historic seven consecutive championships between 2002 and 2008, has not played in Ligue 2 since 1989.
Lyon officials expressed confusion over the decision, calling it “incomprehensible,” and have announced plans to appeal the ruling.
Lyon’s relegation could have wider repercussions for Premier League side Crystal Palace, as owner John Textor holds a majority stake in Lyon and a 43% share in Palace.
UEFA rules prevent multiple clubs under the same ownership from competing in the same European competition, potentially jeopardizing Palace’s spot in the Europa League.
The outcome of Lyon’s appeal could have lasting implications for both the French club and Crystal Palace, as they await clarity on their participation in European competitions next season.
