The supremo and largest stakeholder of the French side has approached a law firm to assist him in finding new financial benefactors who can keep the club competitiveLille president Michel Seydoux has revealed that he has appointed legal consultants to help him sell his stake in the Ligue 1 club.
The 65-year-old became the majority shareholder of Les Dogues in 2004 and has overseen the club prosper during his time at the helm, as they won their first league title in over 50 years in 2011 and made the switch to a new stadium in August of this year.
"I commissioned a firm last week to help me look for a partner or a buyer," Seydoux told L'Equipe.
"I always said I was looking for someone. It is the only solution to stay competitive and to make the club grow."
The French side have struggled this season both domestically and in European competition. They are currently positioned eighth place in Ligue 1 and are bottom of their Champions League pool, having lost all four of their group matches so far.
Their next fixture is at home to Stade Brest in the league on November 10.