Seven-time Ligue 1 champions Lyon have been relegated to the second tier of French football by the sport’s financial watchdog, the French professional league (LFP), it was announced on Tuesday.
During a hearing earlier in the day, the club failed to convince the financial regulator (DNCG) to lift the restrictions that had been imposed on them since November.
Lyon retains the right to appeal this decision.
Before the meeting, Lyon’s president, American John Textor, had expressed confidence in avoiding relegation to Ligue 2, a league the club has not played in since 1989.
Textor had stated, “We have made a variety of investments in recent weeks… Everything is good financially.” Earlier this week, Textor sold his 43 per cent stake in Premier League club Crystal Palace. Lyon has also reportedly reduced its salary bill and sold key players, including Rayan Cherki to Manchester City and Maxence Caqueret to Como.
Despite finishing sixth in the French top flight and qualifying for next season’s Europa League, if their relegation is confirmed, Lyon would be replaced in Ligue 1 by Reims.
Lyon famously won seven consecutive French titles between 2002 and 2008. Only five clubs have won the Ligue 1 title more often, with Paris Saint-Germain holding the record with 13 championships.
