French Ligue 1 club Lyon have been handed a severe sanction by the Direction Nationale du Contrôle de Gestion, DNCG.

The French football financial watchdog on Friday decided to hit Lyon with a provisional Ligue 2 relegation as well as a transfer ban and the supervision of their wages.

The outcome was expected considering Lyon’s debt reportedly rose from €458 million to €508 million.

As it stands, the John Textor-owned Ligue 1 club will be relegated to Ligue 2 if their financial situation doesn’t improve dramatically.

Lyon might be forced to sell their prized assets, including midfielder Rayan Cherki.

Ligue 1: Lyon handed provisional Ligue 2 relegation, transfer ban