Under Scrutiny: French Soccer League and CVC Capital Embroiled in Financial Investigation

French authorities are investigating the offices of the LFP and CVC Capital in connection with alleged embezzlement and bribery. The probe relates to CVC Capital's acquisition of a stake in the LFP's media rights company, following accusations of financial mismanagement in French football.

Financial investigators are conducting searches at the offices of France's Ligue de Football Professionnel (LFP) and the private equity fund CVC Capital, according to a judicial source. The operation is a part of an inquiry initiated on July 16, 2024, involving accusations of embezzlement, bribery, and unlawful interest.

In 2022, CVC Capital acquired a 13% stake worth 1.5 billion euros in the LFP's recently established media rights company. A recent French Senate report highlighted management errors in French professional football, prompting a complaint in November 2023 alleging misappropriation related to the LFP1 subsidiary.

Michel Savin, who led the Senate report, questioned the long-term benefits of the CVC investment for clubs but noted its immediate advantages for LFP management. Neither the LFP nor CVC Capital offered comments regarding the ongoing investigation.

(With inputs from agencies.)