John Textor Ousted from Eagle Football: A Power Shift in Multi-Club Ownership
John Textor is no longer a director of Eagle Football Holdings Bidco Limited, the holding company overseeing Olympique Lyonnais, Botafogo and RWDM Brussels. This marks a definitive break between Textor and the multi-club ownership structure he founded, confirmed by filings with the UK government’s company registry on February 24, 2026.
Failed Attempt to Regain Control
The removal follows a failed attempt by Textor to regain control of Eagle Football Group during a general board of directors meeting on January 27, 2026. Textor reportedly sought to remove two independent directors, but his efforts were unsuccessful. Creditor Ares Management immediately informed him of his removal following the failed coup.
Michele Kang and Ares Management Take Charge
Michele Kang, currently at the helm of OL Lyonnes, has effectively taken over from Textor. Backed by Ares Management, the primary creditor of the group, Kang has been instrumental in restructuring the organization and distancing it from Textor’s operational control. Kang initially became director general and then president of Olympique Lyonnais.
Financial Troubles and Relegation Scare at Lyon
Textor’s tenure at Olympique Lyonnais, beginning in 2022, was marked by increasing financial difficulties. The club faced intervention from the DNCG, the French football financial regulator, which initially proposed a provisional relegation to Ligue 2 in October 2024 due to mismanagement and a debt exceeding £200 million. The relegation was ultimately confirmed in June 2025, though the club’s fortunes have improved under Kang’s leadership.
The Rise of Multi-Club Ownership and its Challenges
The situation at Eagle Football highlights the growing trend of multi-club ownership in football, and the inherent risks involved. While the model promises synergies and increased market reach, it similarly presents complex governance challenges and potential conflicts of interest. The case of Eagle Football demonstrates how quickly control can shift and how crucial strong financial management is to success.
The Ares Management Factor
Ares Management’s involvement is a key element in this story. As a major creditor, Ares wields significant influence over the direction of Eagle Football. Their support for Kang and subsequent removal of Textor underscores the importance of financial stability in these ownership structures. Creditors are increasingly taking a more active role in overseeing their investments in football clubs.
Lyon’s Improved Performance
With Textor no longer in charge, Olympique Lyonnais appears to be on a more stable footing. Transfer restrictions have been lifted, and as of February 24, 2026, Paulo Fonseca’s team is currently third in the Ligue 1 standings.
Botafogo’s Success Under Textor
Despite the issues at Lyon, it’s worth noting that under Textor’s ownership, Botafogo (Brazil) achieved success, winning the 2024 Campeonato Brasileiro Série A and the 2024 Copa Libertadores. RWDM Brussels also earned promotion to the Belgian Pro League in 2023 during his leadership.
FAQ
Q: What is Eagle Football Holdings?
A: Eagle Football Holdings is a multi-club ownership group that owns stakes in several football clubs, including Olympique Lyonnais, Botafogo, and RWDM Brussels.
Q: Who is Michele Kang?
A: Michele Kang is the current director general and president of Olympique Lyonnais, having taken over from John Textor.
Q: What role did Ares Management play?
A: Ares Management, as a major creditor of Eagle Football, supported Michele Kang and facilitated John Textor’s removal from his position.
Q: Was John Textor still an owner after being removed as director?
A: Yes, Textor remains an shareholder of Eagle Football Group.
Q: What happened with Crystal Palace?
A: John Textor previously held a minority stake in Crystal Palace, which he sold in July 2025 for a reported £190 million.
Pro Tip: Multi-club ownership models are becoming increasingly common, but require careful financial planning and strong governance to avoid the pitfalls seen with Eagle Football.
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