OL sale moved to November 17 under pressure from John Texter

A joint press release from OL Group, Holnest (Jean-Michel Aulas’ family holding company), IDG Capital (Chinese investors selling their shares), Pathé and Eagle Football (John Textor’s company) announced this Monday morning. , the new deadline for the sale of Olympique Lyonnais: all parties a “New Date of Completion of Operation to November 17”. The press release also states: “To date, significant progress has been made on all steps required to complete the operation. »

As announced in recent days, this new delay is explained “Eagle Football finalization of detailed documentation with normal approvals (especially from football authorities) and internal verification procedures for OL Group’s lenders”.

Obviously, the sale is subject to procedures to identify the origin of the funds and investors. After September 30 and October 21, November 17 is the third date set for the sale, while OL Group’s listing was suspended on October 19.

But the statement, more than anything else, highlights a new strain on John Texter and his investors. “Procedures for Signing Final Debt and Equity Financing Documentation”, Above all, by announcing these steps “If one of these steps is not completed, grant the right to terminate without prejudice to other rights for the benefit of Pathé, IDG, Holnest and the OL Group. »

If John Textor and Eagle Football do not meet these intermediate steps by November 17, the sellers may refuse to sell without penalty.

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