John Textor Shifts Focus as Olympique Lyonnais Faces Relegation

American businessman John Textor has announced his intention to step down from the day-to-day management of French club Olympique Lyonnais, which has been demoted to Ligue 2 after a decision by French football's financial watchdog, DNCG. Speaking to Brazil's TV Globo, Textor admitted mishandling French football politics.

Lyon's demotion was confirmed after a provisional announcement in November due to financial irregularities, although Textor plans to appeal the decision. Despite the setback, he reassures fans of the club's strong financial standing and highlights recent achievements such as Europa League qualifications.

Textor will now focus on broader responsibilities within Eagle Football Group, which includes ownership of Botafogo and previously Crystal Palace. He promises to address governance issues within Lyon and hints at seeking new acquisitions in the UK to expand his football ventures.

(With inputs from agencies.)