Businessman John Textor lost a British court case regarding the acquisition of French club Olympique Lyon and must pay $97 million to Iconic Sports. The dispute arose over the acquisition of shares in Eagle, which owns a controlling stake in the clubs Lyon, Botafogo, and RWD Brussels.
Businessman John Textor has failed in a British court case related to the acquisition of French club Olympique Lyonnais and now has to pay $97 million to Iconic Sports. The dispute itself arose from the acquisition of shares in Eagle, which owns a controlling stake in the clubs Lyon (France), Botafogo (Brazil), and the rebranded Belgian club RWD Brussels.
UNN reports with reference to The Guardian.
Details
Billionaire John Textor, former owner of Crystal Palace (an English football club from London), has failed in a British court in a case related to the acquisition of Olympique Lyonnais (France). The UK Commercial Court ruled that Textor must respond to a claim for $97 million (£72 million) from an investor in his multi-club group Eagle Football.
Context
The dispute arose from Iconic Sport's acquisition of a 15.7% stake in Eagle three years ago for $75 million.
Eagle's multi-club structure owns the football club Olympique Lyonnais, the Brazilian club Botafogo, and the Belgian team Molenbeek (RWD Brussels). Eagle Football recently sold the English team Crystal Palace, built through complex financial arrangements involving France, the UK, the United States, Brazil, and the Cayman Islands.
Root of the problem
In late 2022, Iconic invested $75 million in the acquisition of FC Lyon in exchange for a 15.7% stake in Eagle. The agreement provided for a quick listing on the New York Stock Exchange. However, the listing never happened, so the fund is demanding the repurchase of its shares under the contract. This corresponds to the invested amount plus 11% per annum, or $93.6 million (at the time of the complaint).
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In July 2025, John Textor filed a counterclaim against Iconic in the United States, alleging that he had been defrauded. The billionaire claimed that Iconic had not provided the documents necessary to complete the deal. However, a Florida district court this week dismissed the motion, ruling that the case should be heard in the UK.
Following the British court's decision, Textor confirmed his intention to appeal. "While this is a preliminary hearing, I am disappointed by the decision not to dismiss this lawsuit from the outset. I intend to appeal," he said.
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