American businessman John Textor has stepped back from the day-to-day management of Lyon following the club's relegation to Ligue 2, with Michele Kang replacing him as club president.
The news could have an impact on Crystal Palace's participation in the Europa League next season, which remains uncertain after UEFA on Monday delayed a ruling on the FA Cup winner's ownership links to Textor.
UEFA's multi-club ownership rules could yet scupper Palace's hopes of playing in Europe's second-tier club competition, with Lyon owners Eagle Football Holdings -- where Textor serves as chairman -- also having a 43% share in the Premier League club.
Textor hinted at stepping back from his role with Lyon at the weekend and said he would focus more on Brazilian side Botafogo who are also part of Eagle Football Holdings.
Textor had already agreed a £190 million deal ($254m) to sell his stake in Palace to New York Jets owner Woody Johnson, subject to Premier League approval.
Michele Kang, owner of the London City Lionesses and Washington Spirit as well as OL Lyonnes, Lyon's women's team, has been appointed as chair and president at the club as a whole.
Lyon's demotion was provisionally announced by the DNCG, French football's financial watchdog, in November due to financial irregularities and was confirmed on Tuesday. Textor said the club would appeal against the decision and that Lyon's financial position remained strong despite the ruling.
Also on Monday, Botafogo sacked manager Renato Paiva following their FIFA Club World Cup exit, despite his side beating Champions League winners Paris Saint-Germain earlier in the competition. Textor is a major shareholder of the Brazil club.
