Aulas announces Lyon float
Friday, January 26, 2007
Article summary
Olympique Lyonnais president Jean-Michel Aulas has announced on Friday that shares in the Ligue 1 title-holders have been placed on the French stock exchange.
Article body
Long-term aim
Around four million shares in the team's parent company, OL Groupe, have been put up for sale, fulfilling one of the president's long-term aims to make the Ligue 1 title-holders the first French football club to float. "This operation will hand the group fresh resources to boost our development," said Aulas, who hopes to use the income to build a new 60,000-seat stadium in 2009.
Other streams
Individual shares are available for between €21 and €24.4, with a final price to be fixed on 8 February. The OL Groupe posted a profit of €15.9m and a turnover of €166.9m for the year preceding June 2006. Television revenue represented 43 per cent of their income, with 13 per cent coming from non-footballing activities like the club's hairdressing business, taxis and driving school.
Strong position
French champions for the last five seasons, Lyon remain 14 points clear at the top of Ligue 1 despite defeats in their last two games. They take on AS Roma in the UEFA Champions League first knockout round, playing the first leg of the tie in Italy on Wednesday 21 February.
