The financial situation of OL is still critical, indicates Eagle

Less than a year after narrowly saving its place in Ligue 1 in front of the DNCG appeal commission, OL remains mired in a delicate financial situation. Eagle Football Group (EFG), the club’s owner, announced on Tuesday a net loss of 186.5 million euros for the first half of the season until December 31, 2025, after record losses of 201.2 million over the 12 months of the 2024-2025 season.

EFG admits in a statement “a still critical financial situation due to heritage exposures from the past”. Referring to the chaotic management of John Textor, who was removed from his position as CEO of Eagle last June due to the financial downturn that had increased the debt to nearly 518 million euros. EFG also accuses Textor of making commitments to third parties without the group being informed.

The purchase by Michele Kang is taking shape

However, the group congratulates itself on a “significant improvement in operational performance” (not taking into account debt charges or taxes), with a gross operating surplus of -2.2 million euros. A fairly clear turnaround from the -46.1 million in the previous year.

These results are published at a time when OL, burdened by the management of its majority shareholder Eagle Bidco, is being put up for sale by this British holding company placed under judicial administration, as well as its clubs Botafogo (Brazil) and Molenbeek (Belgium).

EFG is banking on “the assumption of the arrival of a new shareholder able to participate in the financing needs of the group by June 2026”. It confirms that its CEO and minority shareholder, American businesswoman Michele Kang, who took over from Textor, is “likely to work on a takeover offer” for Eagle Bidco’s shares.

Ares, who had lent 425 million euros to John Textor when he bought OL in 2022, plays a crucial role in the club’s financial future as a major creditor. The group could support Michele Kang in her potential takeover.