SALE OF A MAJORITY STAKE IN OLYMPIQUE LYONNAIS FEMININ TO MICHELE KANG
Joint press release OL Groupe - Michele Kang
Lyon (France) and Washington DC (USA), 8 February 2024 - 6 p.m.
OL Groupe is pleased to announce the completion on this date of the sale to Michele Kang (through her acquisition vehicle YMK Holdings, LLC) of 52.91% of the capital and voting rights of Olympique Lyonnais Féminin SAS ("OLF"), holding the Olympique Lyonnais women's professional team, by way of purchase of a shareholding in OLF from SASU Olympique Lyonnais and Association Olympique Lyonnais.
Michele Kang, appointed as president of OLF on 19 December 2023, will be maintained in such functions and manage OLF with Vincent Ponsot, CEO. The OL group will benefit from minority representation on OLF's Board of Directors.
This transaction follows the agreement reached on May 16, 2023 between OL Groupe and Michele Kang[1], the parties wishing to favour a direct investment by Michele Kang within OLF, replacing a common investment in a global multi-team platform as initially envisaged.
As part of this transaction, OLF will benefit from the "Olympique Lyonnais" trademarks for a period of at least 50 years as well as from certain services provided by OL Groupe and its subsidiaries (including in particular the use of Groupama Stadium and Groupama OL Training Center). OLF will continue to benefit from the affiliation number with the Fédération Française de Football held by the Association Olympique Lyonnais pursuant to an agreement dated August 10, 2023 approved by the Rhone prefecture, and has undertaken to finance the women's section of the OL Academy which will remain part of the Association Olympique Lyonnais.
First-of-a-kind transaction for a French mixed soccer club, the deal aims to foster the full and independent development of the Olympique Lyonnais women's team, who holds 16 French D1 Arkema championship titles and 8 Women's Champions League title.
"I am honored to complete this transaction and carry the legacy of Olympique Lyonnais Féminin forward," said Michele Kang. "I can only hope that the ambition and support I provide matches that of the club's staff, players and fans. I also want to express my appreciation for everyone at the OL Groupe for the collaboration on the project so far and for the years-and hopefully trophies-to come."
"On behalf of all of our family at Olympique Lyonnais, I am thrilled to formally welcome Michele Kang as majority owner, and as our leading partner, in the global advancement of OL Feminin. Michele is already a great partner of OL, and now she has our complete confidence to pursue an ambitious agenda in support of the #1 women's football club in the world", added John Textor.
In parallel, the Group is pursuing its project to sell its stake in OL Reign (renamed Seattle Reign FC) and will communicate in due course on this matter.
| Phone : +33 4 81 07 55 00 Fax : +33 4 81 07 45 65 Email : investisseurs@ol.fr www.ol.fr | Euronext Paris - compartment C Indices: CAC Small - CAC Mid & Small - CAC All-Tradable - CAC All-Share - CAC Consumer Discretionary Code ISIN: FR0010428771 Reuters: OLG.PA Bloomberg: OLG FP ICB: 40501030 Services de loisirs |
[1] See the Company's press release dated May 16, 2023.
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