November 6 – The offices of the Ligue de Football Professionnel (LFP) in Paris and private equity firm CVC Capital Partners were raided yesterday by French fraud investigators following allegations of embezzlement of public funds, active and passive bribery of a public official and illegal taking of interest.
The home of LFP president Vincent Labrune was also reportedly searched.
The investigation is part of a probe into a deal between the LFP and CVC in 2022.
CVC Capital bought a 13% stake in the LFP’s newly formed commercial subsidiary that manages the league’s broadcast rights for $1.6 billion, valuing the business at $12.5 billion.
The probe was triggered by the AC! Anticorruption group which filed a complaint to the French National Financial Prosecutor’s Office in November 2023 with an investigation opening in June 2024. Their complaint alleged a “possible misappropriation of public funds” when the rights holding company was created following the partial transfer of capital to CVC.
A report by the French Senate last week said “errors were made in the last years in the management of French professional football”.
Michel Savin, who authored the Senate report, said that “while the long-term usefulness of the CVC deal for the clubs remains to be demonstrated, given the dividend to be paid for life, its interest for the LFP’s management is obvious, immediate and without any future consideration”.
The LFP said that it “is cooperating with the judicial authorities to provide all the information required for the ongoing investigation, in complete transparency.
“The investigation, which is taking place in the greatest serenity, will confirm that the League’s actions have always been guided by a deep commitment to French football, in full compliance with the rules in force.”
Contact the writer of this story at moc.l1730864007labto1730864007ofdlr1730864007owedi1730864007sni@n1730864007osloh1730864007cin.l1730864007uap1730864007