American businesswoman Michele Kang, already the Lyon men's club president, minority shareholder and owner of the women's side, is preparing for a potential full takeover of the Ligue 1 club, a statement from their current owner said on Tuesday.
Lyon's current owner, Eagle Football Group, was placed under administration in March, effectively removing former Lyon chairman John Textor from its leadership.
Kang, who also owns women's teams Washington Spirit and London City Lionesses, is the CEO of Eagle Football Group.
The company's board of directors has established an independent committee to avoid any conflict of interest should Kang seek to acquire shares in Lyon currently held by the holding company Eagle Bidco.
Eagle Football Group noted its administration "may result in a change of control" of the company.
Kang took over as club president from compatriot Textor in June 2025.
Lyon won an appeal against relegation from the top flight the following month, after initially being demoted to Ligue 2 by French football's financial watchdog.
They had to cut their wage bill and transfer budget for this season.
Textor took over as Lyon's majority owner in December 2022 from long-standing boss Jean-Michel Aulas, who had overseen unprecedented success at the French outfit.
Lyon's season has unravelled in recent weeks, as a nine-game winless run scuppered their Ligue 1 title bid and saw them knocked out of both the French Cup and Europa League.
They sit fifth in the league table, one point behind Marseille who occupy the last Champions League berth.