Seven-time French champions Lyon, owned by American businessman John Textor, have been relegated to the second tier of French football due to the club’s financial problems, the French Professional League announced (LFP) announced on Tuesday.
Lyon plan to appeal the decision, sources told ESPN.
Textor and Mickael Gerlinger, the club’s director of football, were interviewed by The National Directorate of Management Control (DNCG), the French financial regulators in charge of keeping checks on all professional clubs’ accounts and financial health.