Olympique Lyonnais have been relegated to Ligue 2, as French football’s financial watchdog (DNCG) announced on Tuesday following an audit of the club, which has stated it will appeal the decision immediately.
Lyon were provisionally demoted by the DNCG in November due to their poor financial condition. The decision was confirmed on Tuesday after a meeting between club owner John Textor and the DNCG.
The club criticised the decision in a statement on Tuesday, asserting that they had worked closely with the DNCG and met all their requests.
“Olympique Lyonnais takes note of the incomprehensible decision handed down by the DNCG this evening and confirms that it will appeal immediately,” the club said.
“With demonstrated funds and sporting success that has earned us a place in European competition two years running, we sincerely fail to understand how an administrative decision could relegate such a great French club.”
This relegation decision follows a day after U.S. businessman Textor sold a 43% stake in English club Crystal Palace.
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