Lyon demoted to Ligue 2 over finances

French club Lyon have been demoted to Ligue 2 because of the poor state of their finances.

The club were provisionally demoted by the DNGC, the body which oversees the accounts of French professional football clubs, in November.

Club officials including owner John Textor, met with the DNGC on Tuesday but failed to convince the body that it had sufficiently improved their financial situation to lift the punishment.

Lyon have the right to appeal against the decision.