July 30 – Ligue 1 club Olympique Lyonnais, owned by controversial US investor John Textor, has reported record revenue of €368.3 million ($399 million) for the 2023-24 financial year, marking a 27% increase from the previous year’s €289.7 million.
The strong financial performance comes amid widespread economic challenges within French football, which were underscored by Bordeaux’s relegation to the third tier due to financial difficulties leading them to forfeit their professional club status last week.
OL’s surge in revenue is primarily attributed to the sale of Lyon’s OL Feminin women’s team and a significant rise in events hosted at the team’s Groupama Stadium.
Lyon owner John Textor’s Eagle Football Group (EFG) sold a majority stake in OL Féminin to Michelle Kang, the owner of the NWSL’s Washington Spirit, to focus resources on the men’s team. The transaction was valued at €26.9 million.
EFG also sold the Seattle Reign NWSL team for approximately $58 million and the LDLC Arena to former Lyon chairman Jean-Michel Aulas’s company Holnest for €70 million.
In addition to these sales, Lyon secured another €54.3 million from brand-related revenue and generated €43.5 million from events, up 162% from the previous year.
The Groupama Stadium was utilised for five Rugby World Cup matches in September, and hosted games involving both the men’s and women’s national football and rugby teams.
Despite the hike in revenue from sales and events, it was media and marketing rights that emerged as the club’s largest revenue driver, contributing €95.3 million, a 12% increase. This included the final €50 million instalment from private equity group CVC’s acquisition of a stake in the LFP’s new commercial subsidiary.
On the negative side, sponsorship revenue fell by 6% to €36.6 million, influenced by the club’s sixth-place Ligue 1 finish and financial difficulties faced by some partners. Ticketing revenue also saw a 10% decline, totalling €33.9 million – largely due to the club’s on-pitch struggles last term which saw them pasted to the foot of the Ligue 1 table for much of the season.
Despite that challenging season, Lyon ended on a high note by securing a spot in the UEFA Europa League after a remarkable turnaround post-Christmas.
The figures show that the broader financial landscape of Ligue 1 clubs has been bolstered by recent domestic media rights deals with DAZN and BeIN Sports.
As per the terms of the deals, DAZN will pay €400 million per season for the majority of games through the 2028-29 season, while BeIN Sports will contribute €100 million annually for one top game each week.
These deals have been described as a ‘lifeline’ for many Ligue 1 clubs, several of which were at risk of bankruptcy.
Lyon’s financial success contrasts sharply with the broader financial turmoil in French football, underscoring the club’s strategic management and resilience in a challenging economic environment. This success may be short-term, though, as the club sold many of its women’s football assets to stay afloat whilst the women’s game popularity continues to boom.
Contact the writer of this story, Harry Ewing, at moc.l1726541872labto1726541872ofdlr1726541872owedi1726541872sni@g1726541872niwe.1726541872yrrah1726541872.