LOSC Lille: Owner Lopez left, club to be sold - Player sales the next step?

LOSC Lille are in significant financial difficulties. As reported by both L'Équipe and Canal+, the club based in the North of France is on the verge of being sold. President and owner Gérard Lopez has already left the club.

LOSC Lille have €200 million debt

On Tuesday, Lopez flew to London to speak to meet with Elliott Management and discuss the football club's future. The American investment management firm is the main financier of LOSC and gave loans in the region of €225 million. But the difficult economic situation and the lack of repayments of hundreds of millions of Euros means that the financial engagement of Elliott Management is currently at risk. 

The club's overall debt has been reported to be €200 million, and the club wants to use the upcoming transfer window to generate financial relief. Last summer Les Dogues sold Victor Osimhen for €70 million to Napoli and center-back Gabriel for €26 million to Arsenal.

But some of that money was re-invested; the club, for example, signed striker Jonathan David for a Canadian record €27 million. David has since scored two goals and three assists in 20 games for his new club. Whether he is a candidate to be sold was not made clear on Wednesday. But players like David, Renato Sanches, Yusuf Yazici, and Timothy Weah have the sort of market value that could generate much-needed cash in the short-term. 

In Callisto Sporting SARL, an investment fund seated in Luxembourg, is now supposed to help close the financial gap at the Ligue 1 league leaders. Olivier Létang will become the new president. The 48-year-old was last in charge of Stade Rennais. L'Équipe has reported that a press statement has been ready for days. 

The newspaper also added that head coach Christophe Galtier and his team would be left untouched by the club's changes following financial restructuring. There is no reason to change the coaches anyhow. After matchday 14, LOSC are first in the Ligue 1 standings. 

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