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The Dramatic Saga of Olympique Lyonnais
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The Dramatic Saga of Olympique Lyonnais

28/03/25 19:20

What is going wrong at Lyon?

If you were to call Olympique Lyonnais the biggest circus show in Europe over the last couple years then you would not be corrected at all. France’s third biggest city hosts one of the country’s most successful teams, Lyon have won Ligue 1 seven times, appeared in two Champions League Semi-Finals, and have averaged over 50,000 fans at Parc Olympique Lyonnais this season. That is without mentioning the women’s half of the club, who have won the Champions League a record eight times.

Jean-Michel Aulas bought a second tier club in 1987 and turned it into one of the most valuable football teams in the world 20 years later. A highly profitable team in recent years, sales of Tanguy Ndombele, Alexandre Lacazette, Ferland Mendy, Bradley Barcola, Lucas Paqueta, Bruno Guimaraes and Corentin Tolisso led to €330 million in transfer fees alone, yet debts of hundreds of millions has left the club facing relegation to the second tier. Ligue 2 action awaits for the first time in 36 seasons if John Textor (club owner and president of Eagle Football Holdings) cannot solve issues off the pitch. With a current transfer embargo imposed and a manager that is now touchline banned for 9 months after just a few weeks in the role, where has it all gone so horribly wrong for Lyon and can Les Gones be saved?

Results on the pitch painting over cracks

Textor and Lyon’s ambitions for a return to the Champions League next season were proven to be serious when head coach Pierre Sage was sacked despite losing just 13 in 56 games as head coach, pulling the club from the relegation zone to sixth, where the club were at the time of his departure.

Despite the absurdity occurring behind the scenes, both coaches this season have got their team to perform well on the pitch. As of matchday 26, Lyon are fifth and four points from second. A Europa League Quarter Final awaits against Manchester United after thrashing FCSB 7-1 on aggregate in the round of 16. Les Gones come out highly ranked in most statistical fields and have six players with double digit goal contributions.

The youthful quality of Georges Mikautadze, Rayan Cherki, Malick Fofana and Tanner Tessman is combined with the experience of Alexandre Lacazette, Corentin Tolisso, Nicolas Tagliafico and Nemanja Matic to create a well balanced and dynamic team to watch. Unfortunately for the fans of OL, many of the club’s most exciting talents will move on in the summer with Cherki, Mikautadze and Fofana all rumoured for Premier League moves. Lyon will reluctantly take the money for these player sales, as right now balancing the books is a higher priority than preserving their squad.

Where have financial problems come from?

Numerous clubs in France have struggled financially since 2020, just look at Bordeaux who now play in the fourth tier. COVID-19 led to a lack of ticket revenue which was worsened when both Mediapro and Amazon pulled out of TV deals amassing a billion euros combined. The majority of the top flight would not be able to stay afloat if it was not for TV deals. Ligue 1 does not have the reputation of the Premier League, La Liga or Serie A and has at times struggled to establish a strong relationship with a streaming partner.

Lyon’s owner, Textor, also should receive some blame. His multi-club ownership and stock market ventures have led to some questionable economic decisions. The club also invested in a €600 million plus complex which includes the Parc OL Stadium, training complex and the 16,000 OL Arena that hosts concerts and basketball. Whilst these facilities are brilliant for the club, they were expensive to construct. Textor’s origina promise to “spend” and “go after PSG” now looks impossible after multiple years of losses and now strict transfer conditions.

Paulo Fonseca

Fonseca is a highly regarded coach in the European game, spending 11 years managing in Portugal before taking the helm of multiple European regulars such as Shakhtar Donetsk, Roma, Lille and AC Milan. His reign at Lyon has lasted nine games so far, his side have won seven of those matches picking up 15 points from their last possible 18 in Ligue 1.

Five games into his tenure though, Fonseca was sent off for his confrontation of referee Benoit Millot which was described as furious and intimidating. It was confirmed a few days after the incident on 5th March that Fonseca would be “barred from accessing the bench, the officials' dressing rooms, and carrying out any official functions before, during, or after matches until 30 November.” The punishment also prevents him from going to the team dressing room, pitch, tunnel and corridors leading to those areas until 15 September.

Textor has stood by Fonseca and openly spoke on the punishment being harsh meaning that the Portuguese coach will return in nine months time. Jorge Maciel has won all four of his games as interim manager since and has experience in French football, but it is still not ideal to have a head coach banned for the length of a pregnancy just a month into his new position. The situation has only added more uncertainty to life in Auvergne-Rhône-Alpes.

Transfer Restrictions

Since the transfer restrictions were put in place, Lyon have seen 10 players depart the club, Thiago Almada was the only incoming over the winter, finally moving to Europe on loan from Brazilian side Botafogo, a fellow Textor-owned club.

At a key time of the season, Les Gones were unable to strengthen their squad. Lyon have somehow overcome these difficult circumstances to continue to challenge for a top four spot. The transfer embargo is in place for the foreseeable future although a verdict will still be made at the end of the season over what league the club will play in come August.

Can Lyon be Saved?

The future is very uncertain for Lyon, before the National Directorate of Management Control investigated the clubs finances, Lyon's debts reportedly rose from €458 million to €508 million. Relegation can be avoided if they can improve their financial situation. Changes will have to commence in order to do so, many of which will harm OL’s chances of competing in the Champions League going forward. Some might have overlooked that the club have the second-largest wage bill in the league despite not finishing in the top four since the 2020/21 season. Textor might have to sell some of his shares in either Crystal Palace, Botafogo or RWD Molenbeek to help, many clubs will also be circling around Les Gones’ players this summer knowing that player sales will also be needed.

Lyon have overspent their means, plain and simple. Jean-Michel Aulas arrived at the club with a dream almost four decades ago, but things in the mens half of the club seem to have been on a decline since OL last won Ligue 1 in 2008, but especially since their Champions League Semi Final in 2020. It has almost been five years since Memphis Depay, Maxwel Cornet and Moussa Dembele’s goals booted Cristiano Ronaldo’s Juventus and Pep Guardiola’s Manchester City out of the UCL. Will those lockdown memories be the closest Olympique Lyonnais ever get to Europe’s most renowned trophy? Only time will tell.

Lyon travel to Strasbourg tonight to face Liam Rosenior’s inform side. It will be Les Gones’ first game in a fortnight and a loss would see OL leapfrogged by their fellow Eastern France counterparts. Will Maciel’s men continue to battle through the toughest of conditions or finally succumb to the mess they are surrounded in.

Benji Kosartiyer
Journalist
James McLeish

Writer

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