This time, it is signed! Michele Kang has officially become the majority shareholder of Olympique Lyonnais after buying 87.78% of the club’s capital for 30 million dollars (€26.3 million). A new chapter is opening for the Rhône-based club.
It is official: Michele Kang has bought the club! The American businesswoman, already president of OL, finalized the operation after receiving the green light from the DNCG, which confirmed the club’s place in Ligue 1.
Michele Kang Opens a New Era at Lyon
“I am delighted to confirm that I am now officially the majority shareholder of the legendary Olympique Lyonnais,” she said.
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Michele Kang has not simply bought the club. She also announced the cancellation of more than €230 million in intercompany debt, as well as financial support that could reach €71 million over the next two seasons.
That should give OL some breathing room, although the club remains under DNCG supervision regarding its wage bill.
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