Kang moves to take control of Olympique Lyonnais owner EFG for $30 million

Kang moves to take control of Olympique Lyonnais owner EFG for $30 million June 23 : Sports businesswoman Michele Kang, who has been the chair and CEO of Eagle Football Group, has offered to pay $30 million for an 88 per cent stake in a deal which also includes €71 million ($81 million) in financing aimed at restructuring the debt of the owner of French soccer club Olympique Lyonnais. • Kang offered to buy the stake in EFG for a fraction of its market value as the group struggles with servicing of debts, which stood at €616.3 million as of December 31. • Olympique Lyonnais was sanctioned with relegation to Ligue 2 in June 2025 over its financial problems, but this was overturned by the appeals committee of French soccer's financial watchdog • EFG's board of directors said it will express its reasoned opinion on the proposed tender offer in due course • The company would be renamed "Olympique Lyonnais Groupe S.A." at the next shareholders meeting, EFG added. • Kang already owns women's team OL Lyonnes ($1 = 0.8789 euros)