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Olympique Lyon Avoids Risk of Elimination from the Europa League

The Union of European Football Associations (UEFA) announced that Olympique Lyon can continue its campaign in the Europa League after the French club met the deadline to avoid being excluded from the competition.

UEFA explained that the financial data submitted by Lyon in December failed to meet the essential principle of financial sustainability. Lyon reported debts exceeding 500 million euros ($500 million) last year, and the French football financial control authority threatened to demote the club to Ligue 2 in November.

The club, owned by American businessman John Textor, also faced the risk of being excluded from the Europa League if it did not meet the January 30 deadline set by UEFA’s committee to review its financial accounts fairly.

Coinciding with the deadline, Lyon drew 1-1 with Bulgarian visitors Ludogorets Razgrad last Thursday, securing a top-eight position among the 36 teams in the Europa League standings.

The French team secured an automatic spot in the Round of 16, along with a financial prize of 1.75 million euros ($1.8 million) from UEFA.

UEFA stated in its announcement: “Lyon has taken the necessary measures and met the conditions set by the financial control authority within the specified deadline, and the conditional exclusion decision will not apply.”

Olympique Lyon will be present in the Europa League Round of 16 draw, which will take place on February 21.

The French club boosted its finances in January by selling several of its players during the mid-season transfer window.

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