Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
NYON, Switzerland — UEFA has let Lyon play on in the Europa League after the U.S.-owned French club met a deadline to show its finances were healthy enough to finish the season. UEFA says Lyon's financial statements in December "failed to comply with the core underlying principle of going concern." Lyon reported debts of more than $500 million last year. It's been threatened with relegation to the French second tier by the national soccer watchdog. The club owned by American businessman John Textor faced Europa League disqualification unless it met a Jan. 30 deadline set by UEFA. Lyon is in the round of 16.
