The winter transfer window will open, an opportunity for some to make mid-season changes. In the case of OL, monitored by the DNCG, we will have to be smarter.
Botafogo champion, OL quid?
The case of Lyon is a real problem for the championship, with an economic model based on a real Ponzi pyramid, the question is knowing when the house of cards will collapse. However, the president of the Rhône club has achieved some success, in particular with a great victory in the Copa Libertadores and recently a Brazilian champion title, the last one dating back to 29 years ago.
A return on investment after the huge financial windfall unlocked with OL and Molenbeek funds, so can we expect a negative reaction for Lyon fans? Not exactly. The showcase in Brazil it allows a collection of only thirty million (21 million for the Libertadores, more than 10 million for the television rights of the championship), even if it includes the 50 million deriving from participation in the next Club World Cup.the 80 million raised remain far from the 300 million requested by the DNCG to fill the deficit, and do not represent a renewable equity fund…
Thiago Almada in, Rayan Cherki out?
Under the Christmas tree Olympic Lyonmany Gone would like to find reinforcements, not sure that Father Textor is of the same opinion. Banned by the DNCG and placed in provisional administrative relegation, John Textor tried to circumvent the decision by sending (for the umpteenth time) a Botafogo player to Lyon but without compensation and with a 100% loan paid by the Brazilian champion.
Will it pass? Only the future will tell, in any case the OL president seems confident given that he has already announced Thiago Almada as an official recruit in the French league. In addition to the recruits from Molenbeek or Botafogo, and knowing the regulations relating to non-EU places, it is difficult to imagine other recruits for the Lyonnais. As for departures, assuming that Textor deposits all its latest Brazilian earnings in Lyon (very hypothetical possibility…), 200 million euros remain to be found and which could arise from several sales. Rayan Cherki, in the event that Almada’s arrival is official, could be the first on the starting line, with certainly Gift Orban (closely monitored by Galatasaray), or even Lacazette (towards Saudi Arabia?) and Malick Fofana (Premier League?).
If OL wants to pay off its debt, this will mainly involve the sale of the vast majority of its workforce and sporting achievements, including regular participation in the European Cup. It would therefore be more logical to say that the recovery of Lyon’s situation will depend only on Pierre Sage’s talent in making his players perform, much more than on Textor’s know-how in tinkering with the account lines before a visit to the financial police of French football.
The winter transfer window is approaching, but for Olympique Lyonnais, this period will not resemble a typical mid-season rebuild. Closely monitored by the DNCG, Lyon’s margin for maneuver is limited. Creativity, not extravagance, will define their strategy.
Botafogo Champion, OL Quid?
The broader ownership ecosystem complicates the picture. Botafogo de Futebol e Regatas’s recent triumph in the Copa Libertadores and a long-awaited Brazilian league title mark undeniable sporting success. Financially, those victories generated significant income—around €30 million from prize money and broadcasting, with additional revenue expected from participation in the upcoming Club World Cup.
However, the central question remains: how much of that benefits Lyon directly? Even combining Libertadores earnings and projected international competition revenues, the estimated €80 million remains far below the roughly €300 million reportedly required by the DNCG to stabilize Lyon’s deficit. Crucially, such income is not a recurring equity solution but rather a temporary cash injection.
For Lyon supporters, the situation is paradoxical. On one hand, success within the ownership group showcases ambition and strategic reach. On the other, the domestic reality in France is fragile. The club’s economic model—often criticized as overly leveraged—places pressure on immediate asset sales rather than ambitious recruitment.
As the winter window opens, Lyon’s approach will likely prioritize balance sheet stability over squad expansion. Loan deals, free agents, and strategic departures could define their activity. Ultimately, Botafogo’s continental glory may offer symbolic reassurance, but it does not erase Lyon’s structural challenges. The coming months will reveal whether financial discipline can coexist with competitive ambition in the Rhône.
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