Wednesday briefing: Michele Kang to become Lyon’s sole majority shareholder

Michele Kang is set to become the sole majority shareholder of Olympique Lyon after reaching an agreement with Ares, the main creditor of Eagle Football Bidco, and Cork Gully, the liquidator of the holding company that controls around 87 per cent of the French club.

In a statement, Lyon said the agreement would increase Kang’s stake in the club and would see her commit up to €71 million in funding, rising to €75 million including transaction costs.

The transaction remains subjec