French Ligue 1 football club Olympique Lyonnais has completed a deal to acquire a minority shareholding in local LNB Pro A basketball team ASVEL, along with providing further details about plans to establis a dedicated events arm and the development of a new arena it claims will be the biggest in the country outside of Paris.
The announcements were made at a press conference on Saturday, with the strategic partnership with ASVEL to result in the acquisition of a 25 per cent stake in the men’s LDLC ASVEL team for €3.4m ($3.87m) and an investment of €300,000 for a 10 per cent stake in women’s team Lyon ASVEL Féminin.
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