Lille (AFP)

Financially cornered, the owner Gérard Lopez was forced to sell Losc four years after taking power to investment fund Merlyn Partners, 48 ​​hours from a shock against Paris SG where the Mastiffs will try to keep their first place of L1.

Blossoming on the pitch, with a leading position in the championship and a qualification for the round of 16 of the Europa League, Losc suffered an unexpected governance crisis with the departure of the Spanish-Luxembourg businessman and the arrival Olivier Létang, former leader of Paris SG and Rennes, who becomes the new president of the northern club.

"LOSC SA is pleased to announce the finalization of the transfer of ownership from Victory Soccer Limited, owned by Gerard Lopez, to Callisto Sporting S.à.rl, owned by Merlyn Partners SCSp. The transaction was finalized on 18 December 2020 ", details the northern club in a press release published in the evening.

Very indebted to Elliott Management, which allowed him to buy the Losc in early 2017 and invest a lot of money thereafter, Gérard Lopez was pushed towards the exit by the American investment fund.

Lopez had borrowed in his first months in office more than 225 million euros from Elliott Management, to whom he had repaid less than half of this sum.

- "I achieved my goal" -

"My goal has always been to put LOSC on a sporting level. When I became president, the club was in 17th place in Ligue 1. Today, the team has excellent sporting results and is ranked 1st in Ligue 1 . I have achieved my goal and believe it is now time for a new owner to take over, and for me to focus on other sports businesses, "said the now former president in this statement.

"Given the recent difficulties in Ligue 1 and in particular the uncertainty surrounding the contract for the TV rights for the French championship, it is important that the LOSC be held by a reference owner, with recognized financial strength like Merlyn. Under my aegis, and while maintaining high sporting ambitions, we have invested more than € 150 million in player purchases and generated even more income. I am therefore leaving the club leaving behind a legacy of talent for the future ", concludes Mr. Lopez.

The text also confirms the departure of the sports advisor to the former president, Luis Campos, a unparalleled talent scout who is likely to be greatly missed at Losc during future mercatos.

- reduced debt and funds injected -

The text also states that "Merlyn's desire is to capitalize on the sporting results obtained in the past seasons and to ensure that this success is sustainable in the long term by building on a solid financial position and a strong management team ( ...) As part of the new financial strategy, the outstanding debt of LOSC will be drastically reduced and new equity will be injected into the club. "

Exit Lopez, hello Létang, therefore, appointed chairman and CEO of Losc.

"My intention is that the club reaches its full potential and I will ensure the good management of the LOSC on the sporting and financial plans (...) with football at the heart of the project", affirms the new leader, former president of Rennes and sports director of PSG, which he will therefore find on Sunday in his new costume.

On paper, this transition seems to be going smoothly since the technical staff and in particular coach Christophe Galtier are not affected by these upheavals.

It remains to be seen whether the Lille players will not be disturbed when it comes to challenging PSG on Sunday and whether the workforce will not be upset during the next transfer window.

© 2020 AFP