French powerhouse Olympique Lyon have been relegated to Ligue 2 despite finishing sixth in Ligue 1The seven-time French champions were provisionally demoted in November last year, and their relegation has now been confirmed following further financial scrutinyLyon said they will appeal the decision,

The shocking revelation comes just a day after Lyon's owner John Textor offloaded his shares in Crystal Palace to New York Jets supremo Woody Johnson – a move seemingly designed to secure the Premier League team's spot in the Europa League.

Olympique Lyon was relegated by the DNCG, the body that oversees the finances of French football. Let’s remember that the Lions have been carrying a long-standing debt that would exceed 500 million euros.