Lyon reveal the details of Jean-Michel Aulas departure

Lyon have released a new statement unveiling some contractual details regarding the departure of president Jean-Michel Ailas. It was revealed that Aulas “has committed, under the Agreement, to resign from his other positions within the OL Group.”

As part of his exit package, he will receive a compensation of €10 million. While he will retain the title of honorary president of OL, Aulas will enjoy certain perks, including a private box at the stadium, reimbursement of professional expenses related to his activities within OL Group, and a company car.

As previously planned, Eagle Football, led by John Textor, has also committed to repurchasing at least one-third of OL Group’s shares to be issued to Holnest as repayment for its OSRANEs (a type of financial instrument), with a value of €15 million.

In a major announcement on Monday, Olympique Lyonnais revealed the departure of their iconic president, Jean-Michel Aulas. After 36 years at the helm, Aulas bid farewell to his position as chairman of the board, marking the end of an era.

Having guided the club from the second division to multiple French championships, he had already transferred ownership of the holding company Holnest to Eagle Football, owned by John Textor, in December last year.

GFFN | George Boxall