John Textor removed from Eagle Football Holdings board as Ares seek to recoup loans

February 25 – American businessman John Textor is no longer a director of Eagle Football Holdings, a legal filing confirmed on Tuesday. 

The filing at the UK’s Companies House detailed that Textor was removed from the holding on January 27, hours before a general meeting of Olympique Lyon where he tried to wrestle back control of the club.

The director change, driven by American investment fund Ares, will weaken Textor’s control over the clubs. On his website, Textor is disputing his exit as director.

He “objects to the filing of frivolous documents by third-party lenders, with Companies House, which seek to disenfranchise the shareholder rights of the Eagle Group companies.”

Eagle Football Holdings’ Bidco is the vehicle that holds the shares and legal rights across the multi-club group, including Olympique Lyon, Botafogo and RWD Molenbeek.  At Eagle, Ares has been calling the shots for some time.

The fund lent Textor over €400 million, primarily to finance the acquisition of Lyon in 2022. But the American has since struggled to meet repayment obligations.

Last summer, Eagle sold its minority stake in Premier League club Crystal Palace to New York Jets owner Woody Johnson. The proceeds – around €200 million – were reportedly returned in full to Ares, allowing the fund to recoup some of its investment.

Ares is seeking to retrieve at least another €200 million in outstanding loans from Eagle. The fund has invested in several clubs, including Chelsea, Inter Miami and Atletico Madrid.

Textor’s relationship with Ares is increasingly marked by tension. Eagle Football Group reported a net loss of €20 million for the financial year ended 30 June 2025, according to Bloomberg. Eagle’s Brazilian club Botafogo has been slapped with a transfer ban by FIFA over an unpaid transfer fee to Atlanta United and later a Brazilian court confirmed that the club were prohibited from trading players or selling assets without approval of the board.

On his website, Textor points to a side agreement between Michelle Kang and Ares as the spark for a civil war at Olympique Lyon. The statement reads: “The financially strongest club, in Brazil, which sent both cash and players to the now-Europa league front-runner, has been left to drift, with large intra-group receivables unpaid, at the direction of a ‘secret board’ in France that is itself an obvious violation of French law.

“The dispute between Ares and Mr. Textor, regarding control of the board of Eagle Bidco, will continue.”

Contact the writer of this story at moc.l1772030994labto1772030994ofdlr1772030994owedi1772030994sni@i1772030994tnuk.1772030994ardni1772030994mas1772030994