They were founded in 1896 and play in red and black. They are based in Lyon in Rhône-Alpes, and play at the Stade Vuillermet, in Lyon.
The club developed several sections (it now has 13), one the most successful being the rugby union section, which is now known as LOU Rugby. The rugby club took part in three successive French championship finals (1931-33), losing the first one to RC Toulon (3-6) but winning the next two against RC Narbonne (9-3 and 10-3). It then played in lower amateur leagues until it was promoted back to the second professional division (Pro D2). In 2006-07, it has the second biggest budget of the championship and its ambition is to rejoin the Top 14 in the next two years, under the leadership of their coach Christian Lanta, who formerly led Racing Club de France, Italians giants Treviso and SU Agen.
| Date | Winner | Runner-up | Score | Venue | Spectators |
| 10 May, 1931 | RC Toulon | Lyon OU | 6-3 | Parc Lescure, Bordeaux | 10,000 |
| 5 May, 1932 | Lyon OU | RC Narbonne | 9-3 | Parc Lescure, Bordeaux | 13,000 |
| 7 May, 1933 | Lyon OU | RC Narbonne | 10-3 | Parc Lescure, Bordeaux | 15,000 |
| Year | Winner | Score | Runner-up |
| 1932 | SU Agen | round robin | Lyon OU |
| 1933 | Lyon OU | round robin | SU Agen |