PARIS (AP) – League leaders Lille have been sold to a Luxembourg-based investment fund as the fallout from a failed TV deal continues to have a monetary toll on French clubs.
Lille said in a statement that the sale of Gerard López to Callisto Sporting, a subsidiary of Merlyn Partners, was completed on Friday.
“Given the recent difficulties in the first French department and especially the uncertainty around the television rights of the French championship, it is incumbent on Lille to have a reference owner, known for its financial strength, like Merlyn,” said Lopez. on the club’s website.
López and soccer director Luis Campos, a famous scout with an extensive network in Europe and South America, left with immediate effect. Campos connected without delay with the English giant Manchester United.
López has been replaced by former Rennes president Olivier Letang, former sports director of Paris Saint-Germain. Marc Ingla has resigned from his duties as CEO and remains on the Board of Directors.
“We are strongly in the club’s perspective and we will paint to realize the full perspective of Lille,” Merlyn said in a statement. “We intend to give Olivier Letang and his team the mandatory means to succeed in their new roles. “
The northern club is expected to still get 123 million euros ($ 150 million) of the 225 million euros ($ 276 million) loaned from creditors JP Morgan and Elliott Management, take out loans on its flat and owe the old debts of its former owner.
Lille Merlyn would “drastically reduce” those debts and “a new budget would be injected into the club. “
On the pitch, Lille are doing very well, wasting just two out of a total of 21 matches domestically and in the Europa League ahead of Sunday’s game with protective champion PSG, who takes the place for now.
Lille coach Christophe Galtier had a date forged with Lopez, but he also welcomed Letang’s arrival.
“Olivier has done a remarkable job with Reims, Paris and Rennes and with him I think we are going to even smarter times,” Galtier said.
The collapse of the four-year French soccer broadcasting rights deal with Mediapro has disrupted monetary plans in a season already plagued by a pandemic and may lead to widespread sales when the move-in window opens next month. France is already noted as a promoter league, but clubs are being forced to sell earlier than expected.
Just a few months after starting his contract with Mediapro, the Liga de Fútbol Profesional (LFP) recently finalized a deal that was intended to value more than 3 billion euros ($ 3. 6 billion) for the 20 teams. Leader.
Mediapro failed to meet a scheduled October payment of 172 million euros ($ 209 million) to televise games on its new Telefoot network. Another for 152. 5 million euros ($ 185 million) did not end this month.
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