Olympique Lyon have been officially relegated from the French Ligue 1 after they clocked up a massive €500m in debt following a meeting with the DNCG.

Ghanaian winger, Ernest Nuamah’s Olympique Lyon alongside other several other top Ligue 1 clubs, appeared before the National Management Control Directorate (DNCG) to undergo a review of their financial performance.

According to reports, a deliberation was made and finally the decision has now been taken, which implies that the French giants will be playing in the French Ligue 2 next season.

The Auvergne-Rhône- Apes based outfit were handed a provisional relegation during their last meeting with the DNCG last November as they were notified it would become official if they didn’t improve their financial situation.

Eagle Football Group, the consortium that owns OL, has taken several financial measures in an effort to convince the DNCG of significant improvement in the club’s financial health.

As a result of that, majority owner, John Textor has sold his stake in Premier League side Crystal Palace, and Lyon’s women’s team but has still fallen short of the necessary requirements.

However, reports state that the decision is subject to a review if Les Gones appeals the case.