John Textor has been trying to buy Olympique Lyonnais for several months for 798 million euros. But Textor, an American who’s co-owner of Crystal Palace, is reportedly having trouble coming up with the money.
According to Getfootballnewsfrance, “With two weeks to go until the deadline for his move, the American is still not the majority owner of Lyon, and is still trying to find financing. However, confidence is high both at the club and in the businessman’s entourage that the deal can be officially completed.”
Other investors don’t seem to be so sure. Over
To be fair, OL is not alone among soccer teams that aren’t having an easy go when it comes to finding financing. Last month, RedBird Capital brought in the New York Yankees at the wire to close its $1.2 billion purchase of the Italian soccer team AC Milan. And Inter Milan, a money-losing club, is having a tough time finding a buyer as the clock ticks on the repayment of a big portion of its debt.
It will likely only get tougher for financially strapped teams to raise capital as concerns over inflation and a slowing global economy have led to turbulent equity markets and higher interest rates.