Olympique Lyonnais’ Rayan Cherki was in the transfer rumor mill this past summer, with links to Paris Saint-Germain, Liverpool, and Tottenham Hotspur. Nonetheless, the player could be available with the Parisians probably revisiting their interest.

In September, Cherki extended his contract for two more seasons with OL, which gives the French club leverage in any potential sale. On Friday, the DNCG—Direction Nationale du Contrôle de Gestion—handed Lyon a severe sanction.

Lyon faces the prospect of relegation to Ligue 2 unless their financial situation improves significantly. As a result, they may be forced to sell key players, such as Cherki or Malick Fofana, at a low price during the winter transfer window.

Several clubs keen on Lyon standout Rayan Cherki

L’Equipe reports that Cherki could leave Lyon this winter. His ultimate dream is to play for Real Madrid, but Liverpool and PSG also monitor his situation.

The 21-year-old finished the 2023-24 season with three goals and nine assists in 39 matches across all competitions. Even though the player could have left as a free agent in 2025, the player will leave a transfer fee with OL, who are in a dire financial situation.

How much could the player cost? Transfermarkt puts the player’s transfer value at €20 million.