With just a few days left until the end of the transfer window, Lyon are facing a critical turning point in the club’s history. At the time of writing, the club has put Lyon players up for sale in order to raise money. The decisions made in the next few days will have long-term implications for the club’s future.
One of France’s most traditional clubs is in the midst of a financial crisis, forced to take drastic measures as the summer transfer window draws to a close. In fact, American owner John Textor is trying to raise $112 million through player sales. This is necessary to comply with financial regulations and avoid heavy penalties from the French football regulator DNCG. With just days to go before the end of the transfer window, Lyon faces an uphill battle to achieve this goal, having so far raised only a fraction of the required sum.
Their current predicament stems from the strict Financial Fair Play (FFP) rules enforced by the DNCG, which oversees the financial health of clubs in France. To maintain its autonomy and avoid further restrictions, Lyon’s management promised the DNCG that it would generate $112 million from player sales. However, having only raised around $28 million so far, the club is far from achieving this goal.
Due to financial reasons, Lyon have put almost their entire squad up for sale. According to L’Equipe, they have informed all their players that they are available for transfer if the right offers come in. This last-ditch effort shows how dire Les Gones’ financial situation is and how quickly they must act to avoid punishment.
Costs of mismanagement?
Lyon’s financial problems are not just the result of external pressure. The club’s management has come under fire for its handling of finances, particularly in the transfer market. In the last two months, Lyon has spent a staggering $150 million on new signings; including $39 million, a club record, on Nottingham Forest defender Moussa Niakhate. This spending spree has exacerbated the club’s financial problems and put the French side in a precarious position as the transfer window draws to a close.
The club’s aggressive spending is seen as a risk that has so far failed to pay off. With significant investments in players such as Brazilian left-back Abner and Niakhate, Lyon’s management hoped to build a competitive team capable of challenging for the top spots in Ligue 1. However, results on the pitch have been disappointing; Pierre Sage’s players recently suffered a heavy 3-0 defeat to Rennes in their first game of the new season.
Race against time: Lyon players for sale
As the clock of the transfer window ticks down, Lyon is in a race against time to meet its financial obligations. The club still needs to raise $84 million to reach the target set by the DNCG. Failure to do so will result in severe penalties, including restrictions on player transfers and salary increases, which would further hamper Lyon’s ability to compete at the highest level.
One of the key players who could help Lyon reach its financial target is Rayan Cherki, a highly-rated 21-year-old winger. However, Cherki recently rejected an offer from Fulham that would have earned the club $22 million. With other potential suitors in the running, Lyon management will be hoping to secure a significant transfer fee for Cherki or other valuable players before the transfer window closes.
Lyon’s current situation is a far cry from the club’s glory days in the 2000s, when it dominated the French scene, winning seven consecutive Ligue 1 titles between 2001 and 2008. However, years of financial mismanagement and poor decision-making have taken their toll, leaving the club struggling to maintain its status as one of France’s top teams.
Photo: IMAGO / PanoramiC
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