Lyon WFC revealed today that American billionaire Michele Kang has become the primary ownership of the women’s squad.
Kang and OL Groupe, in particular, have inked a deal to establish a new organization with the goal of establishing the first multi-club model in women’s football.
OL Groupe will bring the women’s squad as well as its facilities to the table. Kang will bring the Washington Spirit, the team she owns in the United States, to the new organization through YMK holdings. According to the statement, the objective is to add additional clubs from across the world to the framework. As part of the arrangement, Kang will join the board of OL Groupe.
According to the statement, “each club will maintain its own established identity, in respect to its heritage and community of supporters.”
Lyon adds that the transaction is subject to National Women’s Soccer League clearance. Also they added that the sale of NSWL team OL Reign is in process to prevent any conflict of interest.
The principal stakeholder of OL Groupe and now Lyon club president, had signed an arrangement earlier in the year with Kang, his friend and neighbor in Palm Beach, Florida.
Lyon WFC is under taken by Michele Kang
Following a share swap with current owner John Textor, US entrepreneur Michele Kang will purchase Lyon Women. It is one of Europe’s most successful teams.
The current majority owner will give up his women’s team. As well as his controlling share in the Washington Spirit in order to launch a new independent company too.
Lyon will own 12% of the new structure’s capital, which will seek synergies on both sides of the Atlantic through large central investments and the development of joint resources.
They will specifically exchange experience in science and technology, data analysis, and global sports people transfers. Other clubs throughout Europe, South America, and Asia will be sought under the new organization.