Asset sales sees Textor boost OL revenue to $399m

July 30 – Ligue 1 club Olympique Lyonnais, owned by controversial US investor John Textor, has reported record revenue of €368.3 million ($399 million) for the 2023-24 financial year, marking a 27% increase from the previous year’s €289.7 million. 

The strong financial performance comes amid widespread economic challenges within French football, which were underscored by Bordeaux’s relegation to the third tier due to financial difficulties leading them to forfeit their professional club status last week.

OL’s surge in revenue is primarily attributed to the sale of Lyon’s OL Feminin women’s team and a significant rise in events hosted at the team’s Groupama Stadium.

Lyon owner John Textor’s Eagle Football Group (EFG) sold a majority stake in OL Féminin to Michelle Kang, the owner of the NWSL’s Washington Spirit, to focus resources on the men’s team. The transaction was valued at €26.9 million.

EFG also sold the Seattle Reign NWSL team for approximately $58 million and the LDLC Arena to former Lyon chairman Jean-Michel Aulas’s company Holnest for €70 million.

In addition to these sales, Lyon secured another €54.3 million from brand-related revenue and generated €43.5 million from events, up 162% from the previous year.

The Groupama Stadium was utilised for five Rugby World Cup matches in September, and hosted games involving both the men’s and women’s national football and rugby teams.

Despite the hike in revenue from sales and events, it was media and marketing rights that emerged as the club’s largest revenue driver, contributing €95.3 million, a 12% increase.  This included the final €50 million instalment from private equity group CVC’s acquisition of a stake in the LFP’s new commercial subsidiary.

On the negative side, sponsorship revenue fell by 6% to €36.6 million, influenced by the club’s sixth-place Ligue 1 finish and financial difficulties faced by some partners. Ticketing revenue also saw a…

Source link : https://www.insideworldfootball.com/2024/07/30/asset-sales-sees-textor-boost-ol-revenue-399m/

Author : Paul Nicholson

Publish date : 2024-07-30 08:56:12

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