Financial fair play: LOSC Lille reaches settlement agreement with UEFA until 2023-24

LOSC Lille (Ligue 1 Uber Eats) has entered into a settlement agreement with the investigating chamber of the UEFA Club Financial Control Authority (CFCB) for the sporting seasons 2020-21, 2021-22, 2022-23 and 2023-24, announced the European confederation on 07/08/2020.

"LOSC Lille undertakes to report a defined break-even deficit as reflected in its latest forecast for the financial year ending in 2020, maximum break-even deficits of €20m and €10m in the financial years ending in 2021 and 2022 respectively and to finally reach full break-even compliance by the monitoring period 2023-24 (i.e. financial years ending in 2021, 2022 and 2023)," added UEFA. The settlement agreement also provides for the withholding of part of the income from the club's participation in UEFA competitions (maximum €9m) under certain conditions, as well as a limitation on the number of players it can register for European competition.

"LOSC specifies that it is the financial situation of the 2017-18 season (net loss of €141.9m) that triggered the procedure of the European body and the need to conclude this…