Law firm Stephenson Harwood has advised Eagle Football Group and its subsidiary Olympique Lyonnais SASU on the restructuring of the group's debt with its main creditors. The transaction forms part of the acquisition of control of Eagle Football Group by Olympe Bidco, the acquisition vehicle established by Michele Kang.
Eagle Football Holdings Bidco Limited - previously controlled by John Textor, majority shareholder of Eagle Football Group – was placed into administration under English law in March 2026. The administrators launched a competitive sale process over its assets. Following that process, Michele Kang, President of Eagle Football Group, acquired 87.78% of the share capital via Olympe Bidco, a French company wholly owned by her indirectly.
The acquisition included a restructuring agreement with the senior secured creditors of Olympique Lyonnais SASU, covering the rescheduling of existing financing arrangements including the group’s senior term and revolving facilities, and €320 million in securitised debt. A significant proportion of the OL group's debt owed to Eagle Football entities was also cancelled. Michele Kang has committed to injecting new funds into the OL group over the next two seasons. Completion of the transaction occurred on 26 June 2026 and was subject to Olympique Lyonnais retaining its place in Ligue 1, which was confirmed by the DNCG.
Particularly strategic and complex given its economic significance and international scope, this matter demonstrates Stephenson Harwood’s expertise in securitisation and structured finance transactions. The team advising the OL group leveraged the capabilities of Stephenson Harwood's Paris and London offices.
The Stephenson Harwood team advising Groupe OL included Paris-based Finance Partner Florent Rigaud and Managing Associate Hugo Le Ridou, and Restructuring & Insolvency Partner Ian Benjamin in London.
