OL Groupe officially announced on Thursday the takeover of its women's football team by American businesswoman Michele Kang via her holding company YMK Holdings.
Under an agreement announced in May, Michele Kang will be president and majority shareholder with 52.91% of the capital and voting rights of the company Olympique Lyonnais Féminine (OLF), “via the acquisition of a stake in the capital social” with the company and the OL association, specifies a joint press release from the OL group and the American billionaire.
OL Féminin, 16 times winner of the French championship and eight times of the Champions League, will benefit from the Olympique Lyonnais brands for at least 50 years and from certain services provided by OL Groupe and its subsidiaries, in particular the use of Groupama Stadium and adjoining training center. OLF will benefit from the affiliation number with the French Football Federation held by the Olympique Lyonnais association and is committed to financing the training center which will remain attached to this association.
Billionaire Michele Kang, close to the American John Textor, majority shareholder of OL Groupe, is the founder of a medical technology company. She also created a venture capital company. She joined the OL group board of directors in September 2023.
Furthermore, OL Groupe has yet to finalize the definitive sale of the American women's football club OL Reign for 50 million euros, which it had acquired for 2.8 million in 2019. OL Reign thus became Seattle Reign FC again in January, its designation of origin.