OLYMPIQUE LYONNAIS GROUPE (EPA:OLG) IN RESPONSE TO THE CRISIS, OL GROUPE IMPLEMENTS INNOVATIVE MEASURES FOR ITS PROFESSIONAL TEAMS AND STAFF
Transparency directive : regulatory news
Lyon, 8 March 2021
Given the very serious economic circumstances affecting all of French football:
- following the French government's decision to halt all Ligue 1/Ligue 2 competition during the 2019/20 season,
- and its other decision to maintain the uncertainty about when sports clubs will be able to welcome the public into their stadiums again, further penalising clubs such as OL that own their stadium,
Olympique Lyonnais has proposed an innovative solution enabling all players, technical staff and managers of both the men's and women's professional teams to invest in OL's future alongside all other OL Groupe shareholders.
Many meetings have been held over the past three weeks, and OL's senior management have reached an agreement with a portion of the members of the men's and women's professional groups. As a result, part of their remuneration, representing between 5% and 25% of salary, will be converted, as proposed, into OL Groupe shares, beginning with the month of February and extending potentially until June 2021.
Olympique Lyonnais is pleased to have reached this agreement with players and staff and would like to extend special thanks to the 50% of them who spontaneously accepted this principle, demonstrating the excellent collective spirit prevailing at the club. Some of them, including the women's team, had already participated in reducing salaries during the first lockdown.
OL Groupe's Board of Directors would like to thank the players and staff of both teams warmly for participating in this transaction, which will not have a significant dilutive impact, and hopes that over the next few weeks most if not all of the professional teams will sign on to it.
| OL Groupe Tel.: +33 4 81 07 55 00 Fax: +33 4 81 07 45 65 Email: investisseurs@ol.fr www.ol.fr |
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Full and original press release in PDF: https://www.actusnews.com/news/68158-olg-080321-accord-equipes-professionnelle-gb.pdf