November 6 – The workplaces of the Ligue de Soccer Professionnel (LFP) in Paris and personal fairness agency CVC Capital Companions have been raided yesterday by French fraud investigators following allegations of embezzlement of public funds, energetic and passive bribery of a public official and unlawful taking of curiosity.
The house of LFP president Vincent Labrune was additionally reportedly searched.
The investigation is a part of a probe right into a deal between the LFP and CVC in 2022.
CVC Capital purchased a 13% stake within the LFP’s newly fashioned industrial subsidiary that manages the league’s broadcast rights for $1.6 billion, valuing the enterprise at $12.5 billion.
The probe was triggered by the AC! Anticorruption group which filed a criticism to the French Nationwide Monetary Prosecutor’s Workplace in November 2023 with an investigation opening in June 2024. Their criticism alleged a “doable misappropriation of public funds” when the rights holding firm was created following the partial switch of capital to CVC.
A report by the French Senate final week mentioned “errors have been made within the final years within the administration of French skilled soccer”.
Michel Savin, who authored the Senate report, mentioned that “whereas the long-term usefulness of the CVC deal for the golf equipment stays to be demonstrated, given the dividend to be paid for all times, its curiosity for the LFP’s administration is apparent, fast and with none future consideration”.
The LFP mentioned that it “is cooperating with the judicial authorities to supply all the knowledge required for the continuing investigation, in full transparency.
“The investigation, which is going down within the best serenity, will verify that the League’s actions have at all times been guided by a deep dedication to French soccer, in full compliance with the foundations in pressure.”
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The post French police raid LFP and CVC workplaces after allegations of fraud in rights-holding enterprise first appeared on Foot & Soccer.
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Author : footsoccer
Publish date : 2024-11-06 02:50:37
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