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Lyon recently announced debts of £422million and have now been banned from signing players
Former French Ligue 1 champions Lyon are reportedly set for relegation owing to a financial crisis.
The seven-time champions will lose their top-flight status at the end of the season unless they improve their situation in the eyes of French football's financial watchdog according to the Daily Mail.
This would be another bombshell decision following the demotion of Bordeaux to the fourth tier due to bankruptcy this summer in a hammer blow to the port city club.
Amid looming relegation, Lyon recently announced debts of £422million and have now been banned from signing players amid as per L'Equipe and Get French Football News.
Crystal Palace co-owner John Textor majority owns Lyon through Eagle Football Holdings. He insisted a meeting with France's National Directorate of Control and Management 'went well', but the watchdog seems to have disagreed.
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09:00 - 11.08.2024
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French journalist Romain Molina has also claimed that 'all Lyon players are on sale' in a bid to reduce the club's debts. They have also lost control of their payroll.
Many former Premier League stars call Lyon home. Their squad boasts Wilfried Zaha, Alexandre Lacazette, Nemanja Matic, Said Benrahma, Ainsley Maitland-Niles, and Jordan Veretout.
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