'We are going to spend' - New U.S.-based Lyon owner claims he can match PSG's financial influence

Lyon's American investor John Textor says that he believes his club can go toe-to-toe with Paris Saint-Germain as he says he intends to spend in an effort to compete in Ligue 1.

Lyon have not won the French title since 2008, while PSG have established themselves as the dominant club in French football.

But, despite finishing seven spots and 27 points behind the Ligue 1 winners, Lyon's new owner believes that his team will soon be able to take down their free-spending rivals.

"I don't like these models like PSG," Textor said at a news conference. "Great team, whatever, great athletes, we all love to watch them.

"I think over the few years we want to go after them. We want to win titles here. We are going to show up and we are going to spend."

He added: "We can have as much capital at play in our football club as the Emir of Qatar."

Textor is a businessman that was formerly the Executive Chairman of fubo TV.

The American promised big spending as part of his purchase, which saw him promise a cash injection of €86 million ($90 million) as part of a deal that valued the club at around €800 million ($840 million).

The purchase also included Lyon's dominant women's team, which has been crowned European champions in six of the last seven seasons, as well as the club's stadium.

With the purchase, Lyon joined Textor's portfolio that also includes Crystal Palace, Brazilian club Botafogo and Molenbeek in Belgium.