ABSTRACT
Originally formed in 1896, OL was officially established in 1950. Until the end of the 1980s it existed in the shadow of neighbouring club AS Saint-Étienne, and suffered in comparison with its neighbour’s success. In 1987 OL was taken over by JeanMichel Aulas, a young owner of a local company with a passion for sport. In that year, OL had a projected deficit of 1.5 million euros. This deficit represented 60 per cent of its 2.5 million euro turnover, even though the club operated, technical staff excepted, with only four employees.
