The joining forces of the American Eagle Football Holdings, with its subsidiary in France, OL Groupe, and the American entrepreneur Michele Kang, resulted in the first multi-club organization of women’s football, led by women.
Protagonist of the business, Michele Kang owns the Washington Spirit, current leader of the National Women’s Soccer League (NWSL), the main women’s soccer league in the United States.
Eagle Football Holdings, as is known, is owned by the American John Textor, who also owns Sociedade Anônima do Futebol (SAF) of Botafogo, and its subsidiary in France, OL Groupe, owns Lyon, from Ligue 1, from France.
“This agreement represents a major step forward in the history of women’s professional football. The complete alignment and support for this vision between the OL Groupe board and key directors, including Jean-Michel Aulas, John Textor and myself, is very powerful. The combination represents hope, determination and the business steps needed to shape the future of women’s football,” said Michele Kang.
OL Groupe has announced that 52% of the Lyon women’s team will be transferred to the newly created company in partnership with Michele Kang. The remaining 48% will continue with OL Groupe.
“With a winning tradition unrivaled in the world of women’s football, Lyonnais Féminin has a unique opportunity in this growth market to build the global Olympique Lyonnais brand to the benefit of OL Groupe and our athletes. The agreement with Michele creates the ideal vehicle to achieve this goal, ensuring an exciting future”, highlighted John Textor.
It is worth remembering that Lyonnais Féminin is the most successful club in Europe, with eight Women’s Champions League titles.
Michele Kang is a minority shareholder in Eagle Football Holdings and is also joining the Board of Directors of OL Groupe. In this way, it is forming a sports conglomerate.
“This new global platform will seek to acquire additional clubs in other countries in Europe, the Americas and Asia”, highlighted OL Groupe, which added that the entire deal should be completed later this year.
Check the official note:
At the OL group level, the transaction will result in the OL Association (an independent association governed by the French law of 1901, consolidated by the OL group) contributing to its women’s football business, in exchange for a 12% stake in the new joint entity, without voting rights.
OL Groupe will also hold a 36% (non-voting) stake in the new joint entity, in exchange for granting a 50-year license to the OL brand.
OL Groupe will be represented on the governance bodies of the new structure and will benefit from certain liquidity rights linked to the liquidity of the majority shareholder.
OL Groupe and its subsidiaries will provide services to the new entity. The new ownership will continue to invest strategically to upgrade infrastructure and grow each club’s fan base. In parallel, significant resources will be devoted centrally to developing capabilities that will be shared by all teams, such as performance science and technology, data analysis, global foresight and sports team development.
The text also guaranteed that “each club will maintain its own established identity, respecting its heritage and community foundations”.
2023-05-18 19:37:46
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