New Olympique Lyonnais Stadium Gets Green Light, Will Be Ready In Time For Euro 2016
The financing of Olympique Lyonnais' new stadium "is completed and currently in the budget," according to FOOT01. A total of €80M ($106M) of the stadium's construction costs "will be provided by issuing a bond to club shareholders." Club owner OL Groupe said that bond subscriptions "are open to all shareholders." The main partners of the club, ICMI and Pathé, which hold more than 50% of the shares of OL Groupe, "have already announced they will insure this operation." OL Group President Jean-Michel Aulas said, "The stadium is expected to be commissioned and will be ready during the '15-16 season, allowing Lyon to host Euro 2016 football, for which it is a candidate to host the opening match and a semifinal. If you wish to participate in the construction of the stadium in the service of sport performance and Lyon, you as a shareholder of OL Groupe should subscribe to this bond that is reserved for you." The bonds are worth €100 ($132) and will be issued starting Aug. 27 (FOOT01, 8/1).