Ligue 1 Side Lille's '15-16 Accounts Rack Up Close To $20M In Debt

The accounts of Ligue 1 side Lille for the ’15-16 season -- expected to show debts of €18.1M ($19.3M) -- “must be validated” on Wednesday at a general assembly meeting that will include shareholders and club President Michel Seydoux, according to L’ÉQUIPE. Lille’s pre-tax income amounted to €40.7M ($43.4M). Hit with the “usual economic difficulties” (low ticket sales and a reduction of the average ticket price), the club recorded a turnover of €55.1M ($58.7M) compared to €60.9M in ’14-15. However its fixed costs “still represent” €96.9M ($103M). Lille sold several players throughout ’16 for a total of €41M ($43.7M) to “absorb some of the structural deficit while trying to maintain a certain sporting ambition.” But the club is still in debt, and at the end of the season will have to repay its bond issue of €18.25M ($19.5M) (L’ÉQUIPE, 12/14).