Lyon’s American owner John Textor has insisted there is “no chance” the French side will be relegated from Ligue 1. Textor spoke for two hours at a hastily arranged press conference on Saturday in response to Friday’s decision to provisionally relegate the seven-time French champions to Ligue 2.

The American billionaire was open in his interest to buy Everton, but is currently dealing with huge financial problems at Lyon

Olympique Lyonnais have been handed a provisional Ligue 1 relegation by the DNCG, who oversee the finances of clubs in France, the LFP have confirmed.

Olympique Lyonnais owner John Textor has confirmed his plans to buy the majority share in an English club during a seminar at Olé Sports Summit. The American businessman who also owns Botafogo in

Olympique Lyonnais faces relegation from Ligue 1 due to financial mismanagement unless they resolve the issue by January's transfer window. The DNCG has restricted their signings and will supervise their payroll.

American businessman John Textor's team Lyon have been provisionally relegated to Ligue 2 and imposed a transfer ban for the upcoming window due to its failure to achieve financial sustainability.