Ares Said Close to Taking Control of Lyon Football Club (1)

Ares Management Corp. is close to agreeing a deal to take control of financially-stricken French football club Olympique Lyonnais, alongside businesswoman Michele Kang, according to people familiar with the situation.

Ares and Kang, who were involved in Lyon under the previous management of US investor John Textor, have been finalizing a deal with Cork Gully LLP, which is acting as the administrator of Textor’s Eagle Football Group Bidco, said the people, who asked not to be identified as the information is private.

The proposal from Ares and Kang involves them putting in fresh funds to help Lyon ...