Foster Gillett, son of despised former Liverpool owner George Gillett, has reached an agreement to become Lyon’s majority shareholder, according to L’Equipe.
Gillett Jr. was a director at Liverpool during his father’s turbulent reign as part-owner with the equally controversial Tom Hicks, after they bought the club in February 2007. The American duo departed Anfield in October 2010 with both partners falling out with each other over the running of the club, and sold Liverpool to Fenway Sports Group.
Their reign was a living nightmare for Reds fans as they continually broke promises and put the future of the club at threat after a leveraged buyout. Not only did they fail to deliver on the promise of a new stadium, but when they left the club, the Reds were on the brink of administration, burdened by hundreds of millions of pounds worth of debts. Along with falling out with each other, the Americans had regular disputes with Chief Executive Rick Parry and manager Rafa Benitez.
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They were accused of asset-stripping the club and Liverpool won no trophies during their three-year reign. The club was in the relegation zone at the time of their departure.
Gillett Jr.'s net worth is around $700m and he will take over a Lyon side that have just finished eighth in Ligue 1 and haven’t won a trophy in more than 10 years. He has reportedly reached an agreement worth $600m with current Lyon owner and president Jean-Michel Aulas, who has owned the club since 1987.
