Michèle Kang Acquires Eagle Football Group, to Become Olympique Lyonnais Group
Michele Kang has won the tender issued by the administrators of Eagle Bidco to acquire all shares of Eagle Football Group (EFG). Concurrently, an agreement has been reached with the secured creditors of Olympique Lyonnais to restructure financing and ensure the group's stability.
Michele Kang's Offer Selected by Administrators
The divestiture process led by the administrators of Eagle Bidco under the British insolvency procedure resulted in the selection of the offer from Olympe Bidco, the acquisition vehicle indirectly owned 100% by Michele Kang. This selection came after a competitive process involving more than five parties showing credible interest and having appropriate financial capability.
The administrators from Cork Gully justified this choice based on the purchase price, certainty and speed of execution, and the candidate's ability to meet the group's urgent financing needs. An ad hoc committee consisting of three independent administrators (Gilbert Saada, Nathalie Dechy, and Victoria Westcott) has overseen the process since its initiation on April 14, 2026.
€71 Million in New Financing and Debt Restructuring
Olympe Bidco commits to providing up to €71 million in new financing to the OL group. Concurrently, the secured creditors under the Revolving Credit Facility (RCF) and the Common Securitization Fund (FCT) have agreed to capitalize their interests and principal for eighteen months, and to reschedule the capital repayments. Certain covenants will also be adjusted.
This restructuring will take effect from the date of finalization of the acquisition and the implementation of the financing commitment. Prior to the completion of the transaction, YMK Holdings will buy back the debt positions of certain existing lenders of Eagle Bidco, with future product sharing beyond a certain threshold.
Public Tender Offer in October 2026 and Name Change
Upon completion of the acquisition, Olympe Bidco will hold 87.78% of the EFG shares. In accordance with regulations, a mandatory public tender offer for the remaining shares will be filed with the Financial Markets Authority no later than October 2026, at the same price as the acquired block. Olympe Bidco does not intend to request a mandatory withdrawal within the following 12 months.
Eagle Football Group S.A. will be renamed Olympique Lyonnais Group S.A. at the next general meeting. Michele Kang will remain as Chairwoman and CEO of EFG and President of OL SASU, while Michael Gerlinger will continue as General Manager of OL SASU. The trading of shares will resume on June 24, 2026.
