Luxembourg businessman Gérard Lopez has reportedly agreed to sell Ligue 1 side Lille "following pressure from its major creditors, Elliott Management and JP Morgan." Talks between Elliott and Lopez occurred Tuesday night in London, with the American investment fund "becoming increasingly concerned about being able to see a return" on its loans of around €225M ($274M), which was "due to be paid back in full by next summer." Lopez's departure is expected to be confirmed imminently, and a new structure, presented as a new fund, will reportedly buy the debt from Elliott. The company is going to be called Kalisto Sporting SARL, set up as a subsidiary of holding company Merlyn (GET FRENCH FOOTBALL NEWS, 12/16).
Lopez, who purchased the three-time French champions in early '17, has "a bid in his hands" from Merlyn." He secured loans to keep the club afloat but "the financial impact of COVID-19 and the recent collapse of the lucrative Mediapro television rights contract" has put the club in an "awkward position." Lille was expected to "sell heavily in January" and it "remains to be seen if Merlyn's arrival would lessen the need to raise funds this winter transfer window" (CBSSPORTS.com, 12/16).
