Financial Probe Uncovers Allegations in French Football

Authorities have initiated a probe into the French Ligue de Football Professionnel and CVC Capital, focusing on alleged financial misdeeds. The investigation was sparked by a 2023 complaint claiming misappropriation related to a significant media rights deal. The LFP and CVC have yet to issue public statements.

Authorities are delving into the financial dealings of France's Ligue de Football Professionnel (LFP) and private equity firm CVC Capital. This new investigation follows an accusation of embezzlement and bribery concerning a high-stakes media rights business involving these entities.

The judicial probe, initiated on July 16, 2024, is examining allegations including misappropriation of public funds and bribery charges related to a 2022 transaction. This follows a complaint by the association AC! regarding financial mismanagement within the LFP1 subsidiary.

The French Senate expressed concerns over the management errors in professional football. Although the long-term benefits for clubs from the CVC deal remain uncertain, the LFP's immediate financial gain is undeniable. Neither LFP nor CVC Capital has issued comments regarding the ongoing investigation.

(With inputs from agencies.)