It is set to float on February 9, 2007 once it is given the green light by the stock market authority. It will be the first club to float after France earlier this year amended a law preventing professional sports clubs from listing on the stock market.
Lyon’s listing is aimed at allowing it to compete financially with richer European rivals such as Manchester United and Chelsea and according to club president, Jean-Michel Aulas to become “a realistic challenger to the biggest European clubs”.
The club hopes to raise “around €100 million in net funds” on the stock exchange, and the OL president intends to use this financial boon to “invest in the youth academy and in the development of a range of activities that will ensure the ongoing prosperity of the club, (…) part of the funds raised will be used to buy land, roughly 70 hectares, for the future construction of a new, larger stadium”.
