Michele Kang Becomes Lyon Majority Owner With $30m Takeover

Kang completes Lyon buyout after Eagle football administration

Michele Kang is now Lyon’s majority shareholder with an 87.78% stake. The deal clears €230m in intercompany debt, adds €31m in funding, and keeps Lyon in Ligue 1 after their appeal.

Lyon’s American owner Michele Kang now holds a majority stake after a $30m buyout...

American businesswoman Michele Kang is now Lyon’s majority owner, Eagle Football Group [EFG] confirmed on Friday. 

Kang, who has been running the Ligue 1 club for the last year, has bought 87.78% of Lyon’s shares for $30 million, EFG said in a statement.

The shares Kang bought make up all of EFG’s stake in Eagle Bidco, the holding company currently under judicial administration.

“It is with immense pride and great honour that I announce the successful closing of the deal,” Kang said at a press conference at the club’s headquarters. She added that they had been given the green light after French football’s financial regulator confirmed Lyon would stay in Ligue 1.

The 67-year-old already owns Lyon’s women’s side and was interviewed by the regulator on Tuesday, where she laid out her takeover plans.

As EFG previously stated, “an initial tranche of a shareholder loan of 31 million euros ($35.3m) has been made available to the OL Group,” the statement said, “with a commitment of up to 71 million euros over the next two seasons.”

The deal also covers “the full release of the intercompany debt owed by the OL Group to Eagle affiliates, resulting in the write-off of more than 230 million euros,” Kang said.

Kang was already president of Lyon’s men’s team and had held a minority stake before the takeover.

Eagle Football Group entered administration in March, a move that effectively pushed former Lyon chairman John Textor out of control.

Kang also owns Washington Spirit in the U.S. and London City Lionesses in England. She replaced fellow American John Textor as Lyon’s club president in June 2025.

Lyon successfully overturned a relegation decision the next month. French football’s financial watchdog had first sent them down to Ligue 2, but the club stayed up after agreeing to reduce their wage bill and transfer budget for this season.

Textor became Lyon’s majority owner in December 2022, buying out long-time president Jean-Michel Aulas. Aulas had led the club through its most successful era, including seven consecutive Ligue 1 titles from 2002 to 2008.

Lyon finished fourth in Ligue 1 last season under Kang, earning a place in the Champions League qualifying rounds.

Textor offloaded a minority share in Crystal Palace last July, but he still holds ownership of Belgian side RWDM Brussels and Brazilian club Botafogo via EFG.