American businessman Textor emerges as likely rival to Aulas at Lyon

Olympique Lyonnais president Jean-Michel Aulas holds nearly 30 percent of the shares in the club. AFP

Olympique Lyonnais' power brokers were meeting on Monday to thrash out the final details of a deal to sell off nearly 40 per cent of the Ligue 1 giants to the American tycoon John Textor.

Businessman Foster Gillett had been favoured to buy shares owned by Pathé and IDG. But the 45-year-old American had been unable to furnish the necessary financial guarantees.