Olivier Létang, the new president of Losc -
F. Lo Presti / AFP
Very indebted, the Losc changed owners on December 18th.
To reduce the club's debt, the new bosses would have to do less follies and undoubtedly return to a policy more focused on training.
An economic model that risks lowering the sporting ambitions of the northern club.
He left without a noise and without really explaining himself in a season which sees the Losc shine as rarely before receiving Dijon this Sunday (5 p.m.).
After almost four years at the head of Lille, Gérard Lopez therefore left the northern club just before the end of the year celebrations.
Unable to repay the huge debt accumulated by the club during his presidency, the Spanish-Luxembourg businessman was sidelined on December 18 by Elliott, the investment fund lending millions of euros.
In the process, Melvyn Partners, another investment fund close to Elliott, announced that he was taking over the club and investing 40 million euros to finish the season.
To manage the club on a daily basis, Olivier Létang, already passed through Reims, Paris and Rennes, was appointed president.
And his first words were unequivocal.
“We want to move from a very strong trading model to a more measured model of a more classic football club.
We want to remain performing sportingly but with a different model, ”assured the new boss of Losc during his induction before the holidays.
What is the new investor doing in Losc?
Does this mean that the Losc will return to a more classic model of French-style trading by selling and buying without breaking the portfolio too much?
Not necessarily.
Because it is difficult to know what Melvyn Parners is really doing in Lille, as estimated by Mickaël Terrien, lecturer in sports economics at the University of Lille.
“One of the big questions is, did they really put their money into buying the club.
?
Or have they also used the debt?
A lot of things flow from this question.
If it was their money that was put to the pot, it can be assumed that they have an interest in running the club well.
They can also speculate by trying to clean up the club and making a capital gain on resale.
But unfortunately, there is still a great lack of transparency on the financial package that has been made to take over the club.
We can just hope it gets better.
At the same time, it couldn't have gone worse, ”said the academic.
Gérard Lopez's management raises questions
As Olivier Létang affirmed, the Losc was heading towards "the suspension of payment" if Elliott had not decided to stop the costs with Lopez.
Yet under his era, the club were very active in the transfer market with 73 sales and 79 arrivals for a positive balance estimated at around € 125million.
Except that all of this money did not go directly to the club's coffers.
“People thought that by making capital gains on transfers, they would benefit the club.
But it went a lot more into agent commissions and other charges like commissions disguised as scouting fees.
Paying off such a debt in this way was impossible, ”continues Mickaël Terrien, who points to the role of Scoutly, this recruitment company headed by Luis Campos.
“We have a club which based its economic model on trading by outsourcing this skill to a third party company which has therefore made a lot of money to the detriment of Losc.
Except that we don't know who is a Scoutly shareholder so we don't know who benefited from it ”.
A large clearance sale could take place as early as this summer
This model, the new shareholders of the club no longer want.
But to repay a debt in a disastrous economic context between the Covid crisis, the lack of ticketing revenue and the drop in TV rights linked to the Mediapro fiasco, we will have to quickly tighten our belts.
The Roaring Twenties are over, a great Lille clearance sale could well take place this summer on the transfer market.
"We have 55 professional contracts, 17 of which are loaned and, for me, it is too much because the players, it is necessary to take care of it", letang had thus dropped when taking office.
In this context, it would not be surprising if the new president of the club is relaunching a sector which has made the reputation of Losc and which has been rather neglected in recent years as recognized by a good connoisseur of the northern club.
The resurgence of training to clean up finances?
“Létang will put training back at the heart of the club's project.
Under Lopez, it was a total fiasco.
Campos was OK to recruit top players but outright training was completely neglected.
It's a shame because there are a lot of quality kids who have been recruited with incredible means.
But the after-sales service is defective.
Having a rough diamond isn't everything, you have to know how to polish it.
You need talents, an educational concept and a possible opening up to the high level with a coach capable of drawing on this pool to expand its workforce.
"
If the pro workforce of Losc is made up of young players, none has really been trained in the North.
But isn't losing your best players and replacing them with young people with little experience?
“It will depend on how many talents they lose and what the other clubs do.
Will Lyon be able to keep its players, for example?
If the overall level weakens, it will rebalance values.
Today, the gap is too big between the pro players and the youngsters of the center.
But there are some who arrive ”, continues this specialist of the club who prefers to remain anonymous.
Ambitions undoubtedly revised downwards
Even if the implementation of Brexit could fix things and allow French training to stop the exodus of young players.
The UK's exit from the EU now prevents English clubs from canvassing young players before they turn 18, compared to 16 previously.
"It will be a little less competitive and it will also slow down wage inflation on young players", thinks Mickaël Terrien.
Still, the ambitions could be revised downwards with this model.
Serious candidate for the podium and the Champions League for three years, Losc could fall into line from next season.
Nothing more logical according to the Lille academic.
“Football is pretty simple.
Tell me which city you live in and I'll give you your potential for results.
It is an iron law which is verified everywhere in Europe.
Lille is an important metropolis in France but it is lower than Paris, Lyon, Marseille without counting the tax advantage of Monaco.
In the long term, the Losc is therefore doomed to run between fourth and sixth place.
But when the planets align, you have to play your card to the full.
All the more reason to make the most of this season where all dreams are allowed before the coming back to earth.
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