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.
Lyon officials including owner John Textor, met with the DNGC on Tuesday but failed to convince the body that the club had sufficiently improved their financial situation to lift the punishment.
Last October, his Eagle Football Group announced debts of £422m.
Seven-time French champions Lyon raised around £45m with the sales of Maxence Caqueret to Como in January and Rayan Cherki to Manchester City in June in an attempt to improve their finances.
High earners such as Alexandre Lacazette and Anthony Lopes have also been released.
Lyon have the right to appeal against the decision. Should it stand, Lyon will be replaced in the top flight by Reims, who were beaten in the relegation play-off by Metz.
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