OL Sells LDLC Arena to Holnest in Strategic Shift
Olympique Lyonnais (OL) has finalized the sale of the LDLC Arena, an ultra-modular multipurpose hall known for hosting events like Tony Parker's Asvel basketball matches and high-profile concerts, to Holnest, the family company of former club president Jean-Michel Aulas. The transaction was announced by the Eagle Football Company, with the sale amounting to 70 million euros.
Financial Impact and Strategic Shift
The sale of the LDLC Arena marks a significant step for OL, which has been facing financial difficulties. John Textor, the current president of OL Groupe, highlighted that the sale aligns with the new strategic focus of Eagle Football Group to concentrate on men's football. This strategic shift was necessitated after a substantial 141 million euro investment in the LDLC Arena, which opened at the end of 2023. The sale will reduce debt significantly and show a capital gain in the 2023-2024 financial accounts.
Jean-Michel Aulas’ Continued Influence
Jean-Michel Aulas, the architect behind the arena and former president of OL, will continue to play a pivotal role through his family company, Holnest, which now holds a 60 percent stake in the newly created company, Holarena. His son, Alexandre Aulas, will chair Holarena, ensuring that the arena continues to serve the Lyon metropolitan area while also allowing OL to focus its resources on football.
Broader Implications and Future Prospects
Earlier in the year, Eagle Football Group had sold its shares in OL women’s team to American billionaire Michele Kang and transferred ownership of the Seattle Reign FC women's soccer team to a group including the Seattle Sounders. These moves, along with the recent LDLC Arena sale, are part of a broader realignment of Eagle Football Group’s assets. The company also holds stakes in football clubs Botafogo, FC Florida, Crystal Palace, and Molenbeek, indicating a strategic consolidation centered on football.
- Tony Parker had expressed interest in the arena but was not included in the transaction. The sale of the LDLC Arena involves 16 million euros paid in shares held by Holnest and 54 million euros in cash.
- The new focus on men's football aims to leverage OL’s current standing, being ranked 6th in the last French Championship and qualifying for the Europa League. This aligns with the vision set forth by John Textor to devote capital and human resources predominantly to football.
- Jean-Michel Aulas commented on the conclusion of the deal, emphasizing the significance of bringing together leading institutions and industrialists from Lyon and Paris.
