Overview
- Cork Gully, appointed Friday as administrator under English insolvency law, took control of Eagle Bidco and suspended the previous board’s powers.
- Cork Gully said the step applies only to the London holding and that no linked club has entered insolvency, with matches and daily work continuing.
- OL’s parent said its governance under chair Michele Kang and CEO Michael Gerlinger remains in place and that club operations are unchanged.
- John Textor called the move “deeply shocking” and said he will seek to overturn the appointment and retake control of the holding.
- OL’s control structure shifted on June 30, 2025 after talks with France’s football finance watchdog, and the team has since rebounded with a long winning run and a current fourth-place spot in the league.