Seven-time French champion Lyon risks relegation to the second tier at the end of the season and has been hit with a transfer ban because of financial irregularities.

Lyon’s American owner John Textor has insisted there is “no chance” the French side will be relegated from Ligue 1. Textor spoke for two hours at a hastily arranged press conference on Saturday in response to Friday’s decision to provisionally relegate the seven-time French champions to Ligue 2.

French club Lyon will be demoted to Ligue 2 at the end of the season if they do not improve their finances, and will be banned from signing players in January.

Lyon have been handed a provisional relegation to Ligue 2, the second division of French football, and will observe a transfer ban following an audit of their finances. The Direction Nationale du Controle de Gestion (DNCG,

Olympique Lyon faces provisional relegation to Ligue 2 by DNCG over financial irregularities, with a transfer ban and salary oversight imposed. Owner John Textor remains optimistic about avoiding demotion as the club races to resolve its financial crisis.

French giants Lyon have been handed a provisional relegation to Ligue 2 and hit with a transfer ban. This comes after the Direction Nationale du Control de Gestion (DNCG) conducted an audit of the club’s finances.