Michele Kang, owner of the Washington Spirit, has agreed to acquire an 87.8% majority stake in Olympique Lyonnais for $30 million through her entity Olympe Bidco SAS. The deal includes a commitment to invest up to $80.8 million (€71 million) in the club over the coming two seasons. This transaction will end John Textor’s ownership through his private holding company, Eagle Football Holdings, which currently controls Lyon via Eagle Football Group, a publicly traded company. The deal is contingent on Lyon maintaining its place in Ligue 1 and is expected to complete by June 30, with a tender offer planned for all remaining shareholders by October.

Kang has been involved with Lyon since January 2026 when she assumed operational control as chairwoman and CEO after Textor stepped down from his leadership roles while still holding a majority stake. This purchase would finalize her control of the club and cement her majority ownership of the Lyon women's team as well. The move comes amid financial restructuring efforts by Eagle Football Holdings, which is managed by administrator Cork Gully appointed by lender Ares Management to handle debts and potential asset sales. Despite the takeover, Ares will remain a notes-holder with no direct team ownership or board role.

The acquisition has stirred controversy with John Textor claiming Kang orchestrated a secretive power grab involving a “shadow board” agreement with Ares, which he discovered only after relinquishing operational authority. Textor has accused Kang of deceptive practices, alleging she took control without proper disclosure and filed a confidential criminal complaint against her with French authorities in April 2026. He also called on the Eagle Football Group board to demand Kang’s resignation, citing suspicions of accounting irregularities and corruption tied to her consolidation of control.

This high-profile ownership change highlights ongoing challenges within the management of European football clubs, particularly with intersecting sports ventures and complex investor dynamics. Kang’s acquisition underscores her growing influence in global women’s soccer through her stake in both the Lyon men’s and women’s teams. The resolution of this deal will likely shape the future direction of one of France’s marquee clubs, while also ending a contentious period marked by legal and financial disputes involving Textor and Eagle Football Holdings.