Season
30 May 2026
Through a share exchange transaction, OL Groupe will contribute its women’s team, and Michele Kang, through YMK Holdings, will contribute the majority of the shares in Washington Spirit to create a new independent entity. OL Groupe will continue to support the new organization by providing services, including the use of Groupama Stadium, the Groupama OL Training Center, and the OL Academy.
The new organization aims to acquire additional clubs in other countries in Europe, America, and Asia. Michele Kang will also join the OL Groupe Board of Directors.
“This agreement represents a major step forward in the history of professional women’s soccer”, said Michele Kang. “It brings together the unrivaled tradition of OL Women, eight-time winners of the Champions League, and the dynamism of the Washington Spirit, 2021 NWSL champions, to usher in a new era for our sport. There is particularly strong alignment on this vision between the OL Groupe board of directors and key stakeholders, including Jean-Michel Aulas, John Textor, and myself. It is a great honor for me to take charge of OL Women and lead this unprecedented project on behalf of the fans, players, and staff of both teams“, added Michele Kang.
“Over the past 20 years, OL Groupe has played an important role in the development of women’s soccer. Today, the sport’s popularity is exploding in Europe, the United States, and around the world”, said John Textor, Chairman and CEO of OL Groupe. “With a winning tradition unmatched in women’s soccer, the OL women’s team has a unique opportunity in this growing market to build the global brand of Olympique Lyonnais, benefiting OL Groupe and our remarkable athletes. The agreement reached today with Michele Kang creates the ideal vehicle to achieve this goal and ensure an exciting future for OL Women“, continued John Textor.
Each club will retain its own established identity, respecting its heritage and fan base. The new owners will continue to invest strategically to improve infrastructure and develop each club’s fan base. At the same time, significant investments will be made centrally in the development of resources shared across all teams in the group, such as performance science and technology, data analysis, global recruitment, and sports staff development.
With the creation of this new organization, women’s soccer is taking a big step toward equality with men’s teams. It is also about inspiring girls and women around the world to achieve their dreams and embrace careers in professional soccer on a scale and level of professional success that should not be reserved solely for men.
“This alliance represents hope and determination, while showing the business model to follow to shape the future of women’s soccer”, said Michele Kang.
This transaction is subject to certain conditions, including approval by the National Women’s Soccer League (NWSL) in the United States and various third-party approvals in France. The closing is expected to take place at the end of June 2023.
OL Groupe, owner of NWSL club OL Reign, has begun a formal process to sell the club, thereby eliminating any future conflicts of interest within the NWSL.
At the OL Group level, the transaction will result in OL Association (an independent association governed by the French law of 1901, consolidated by OL Groupe) contributing its women’s soccer business in exchange for a 12% stake in the new joint entity (without voting rights). OL Groupe will also hold, via OL SASU, a 36% stake (without voting rights) in the new joint entity in exchange for the contribution of a license to use the OL brand for a period of 50 years. OL Groupe will be represented in the governing bodies of the new structure and will benefit from certain liquidity rights linked to the liquidity of the majority shareholder. OL Groupe and its subsidiaries will provide services to the new entity.
It should be noted that, in accordance with applicable regulations, Eagle Football Holdings Bidco will file a simplified public tender offer for the remaining OL Groupe shares at a price of €3 per share and €265.57 per OSRANE.
The financial details of this transaction between OL Groupe and YMK Holdings that could impact the valuation of OL Groupe will be communicated to the independent expert appointed by OL Groupe in connection with the public offer.
Michele Kang is an American businesswoman, investor, and philanthropist. Born and raised in South Korea, she came to the United States as a student and has spent her career building businesses that challenge the status quo. She is the recipient of the 2023 Horatio Alger Award, which honors Americans who embody perseverance in their personal and professional lives.
In 2022, Michele Kang became the owner of the Washington Spirit. That same year, she was selected by Sports Business Journal as one of the most influential figures in women’s sports. In February 2023, Ms. Kang became a minority shareholder in Eagle Football Holdings, which owns stakes in soccer teams around the world, including Olympique Lyonnais in France, Crystal Palace F.C. in England, RWD Molenbeek in Belgium, and Botafogo de Futebol e Regatas in Brazil.
