Lyon were one of several clubs that met with the DNCG on Tuesday (June 24) to undergo a review of their financial troubles.
The seven-time Ligue 1 champions were unable to convince the watchdog that they had settled their debts sufficiently and were subsequently relegated.
In a meeting last Novemeber, they were handed a provisional relegation having amassed a massive €500m in debt.
Eagle Football Group, the American consortium that owns the club, then went on to take financial measures that would save them, with John Textor selling his stake in Premier League side Crystal Palace, and Lyon’s women’s team
Shortly after the decision was announced, the club released a statement saying they will appeal the ‘incomprehensible decision issued by the DNCG’ immediately.