Michele Kang at OL: deficit down and EBE improves despite 87M€

OL’s financial picture is improving under Michele Kang, who took charge in July 2025. Even with a €87 million deficit in 2025-2026, the club has sharply reduced losses, according to the statement published on Wednesday. The key indicator: operating cash proxy (EBE) moves to -€4.7 million, from -€47.7 million in the last “Textor” financial year, bringing the club “almost to balance”.

Losses shrink, tighter spending

The turnaround comes while activity drops 19%. OL also highlights a personnel cost reduction of €63.1 million—its lowest level since 2017-2018—linked to a new internal salary structure with monthly pay between €100,000 and €150,000. They add that this has not hurt performance: the team finished last season fourth, their best league finish since May 2021.

Textor legal fight and debt falling

Alongside the numbers, the board also acknowledged a new lawsuit filed by John Textor on October 13 in New York. OL says Textor’s guarantee led to an initial ruling ordering him to pay, and he has now turned against OL, arguing the operations weren’t known by the group or disclosed in its accounts. The amount at stake runs into tens of millions, including €14.4 million for Luiz Henrique and Thiago Almada.

Debt falls too, from €517.9 million to €409.8 million, though OL notes much of it is “mechanical” due to creditor write-offs and a new loan. Still, they underline that austerity must continue at least through 2028-2029, under scrutiny from the DNCG and UEFA. Source: RMC Sport.