Olympique Lyonnais, one of the most iconic clubs in French football, is facing the deepest crisis in its history. Last Tuesday, its administrative relegation to Ligue 2, the second division of French football, was confirmed due to its critical financial situation. Added to this is a new threat: its possible exclusion from the UEFA Europa League.

The Chronicle of a Fall foretold

What many feared but no one dared to confirm has come true. Lyon, the only French team to have won seven consecutive league titles and reached the UEFA Champions League semi-finals twice (most recently in 2020), is in free fall. Ligue 1 loses one of its historical pillars, and the blow could be even greater if UEFA finalizes its exclusion from European competitions.

A Million-Dollar Debt, the Origin of Chaos

The club's financial situation is alarming: Lyon has accumulated more than $354 million in debt. Not even the efforts of American businessman John Textor, who acquired the club in 2023, were enough to prevent collapse. Textor, who also recently resigned as president, had tried to maintain the club's financial stability, but the debt overwhelmed any attempt at maneuver.

Despite the confidence expressed before the hearing with the French financial institution, reality eventually prevailed: Olympique Lyonnais failed to meet the minimum requirements and was administratively relegated.

Their European Qualification Is in Jeopardy

After finishing fifth in Ligue 1, Lyon secured a place in next season's UEFA Europa League. However, this qualification is conditional on remaining in the top flight, something that is no longer the case.

The club had reached a preliminary agreement with UEFA to participate in the tournament, provided it avoided relegation and paid a sum of $60 million (of which $44 million would be waived if certain conditions, such as a reduction in wage bill, were met).

Now, with relegation confirmed, UEFA could revoke that agreement, which would represent a further financial and sporting blow to the club.

Leadership Changes, But No Immediate Effect

Following the financial scandal, John Textor stepped down as club president and was replaced by Michele Kang, an American businesswoman with ties to the Eagle Football fund. Kang was already president of the women's team, now renamed OL Lyonnes, and becomes the first woman to lead the club in its history.

Textor's decision was greeted with relief by fans, although her departure does not guarantee an immediate solution. The club's future remains in suspense, pending legal challenges to reverse the relegation.

A historic club outside Europe and the elite?

Olympique Lyonnais' situation is dramatic. In just one year, they went from dreaming of returning to prominence in Europe to facing the possibility of disappearing from the international competitive scene. Their fans remain hopeful that an appeal to the ordinary courts will reverse their relegation and retain their place in Ligue 1, but time is running out.

Lyon is a club with history, with a passionate fan base, and a legacy that doesn't deserve to be buried by administrative errors. The outcome is yet to be written, but French football is already feeling the loss of one of its giants.