French Football League subject to corruption investigation

The French financial prosecutor PNF has conducted searches at the premises of the French Football League (LFP), which oversees the top two divisions of French football, and the private equity firm CVC Capital Partners. These actions follow claims of corruption concerning a 2022 agreement where CVC acquired a 13% share in a new LFP subsidiary focused on television rights for 1.5bn euros (£1.25bn). A recent report from the French Senate raised concerns about this contract, specifically questioning the beneficiaries. Investigators are currently examining the terms of the agreement, including a 37m euros (£30.8m) bonus intended for distribution among banks, legal representatives, and the league’s leadership upon the deal’s finalization. A statement from the PNF confirmed: “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.” The prosecutor’s office added that these measures are part of an inquiry initiated and subsequently assigned to the Paris Research Section on 16 July, 2024. The charges under investigation include embezzlement of public funds, active and passive corruption of a public official, and illegal conflict of interest. The LFP, responsible for managing France’s premier football divisions, Ligue 1 and Ligue 2, has faced financial difficulties since a prior television rights agreement collapsed in 2021. Globally, CVC oversees approximately 193bn euros (£161bn) in assets, with a portfolio that includes various sports investments, notably the Six Nations and Premiership Rugby.