The French financial prosecutor PNF has searched the offices of the French Football League (LFP) and private equity firm CVC Capital Partners following allegations of corruption.
The allegations relate to a deal signed in 2022 that saw CVC pay 1.5bn euros (£1.25bn) for a 13% stake in LFP’s new subsidiary company related to TV rights.
The contract was criticised in a recent report by the French Senate, which questioned who stands to benefit from the deal.
Investigators are now looking into the conditions under which it was agreed, including into a 37m euros (£30.8m) bonus that was supposed to be shared out on completion between banks, lawyers and the league’s bosses.
“We can confirm that searches are currently under way, including at the offices of the Professional Football League as well as those of the investment fund CVC,” said a PNF statement.
“These actions are part of an investigation that was opened and then assigned to the Paris Research Section on 16 July, 2024, on charges of embezzlement of public funds, active and passive corruption of a public official, and illegal conflict of interest.”
The LFP, which manages the top two tiers of French football – Ligue 1 and Ligue 2 – has been struggling financially following the collapse of a previous television deal in 2021.
CVC manages around 193bn euros (£161bn) of assets across the world including numerous investments in sport, most notably the Six Nations and Premiership Rugby.
Source: BBC
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