Financial investigators search LFP headquarters and president's home
Yesterday at 05:55 AM
According to information from L'Équipe, the National Financial Prosecutor's Office (PNF) have launched a search of the Ligue de Football Professionnel’s (LFP) headquarters as part of their investigation into the complaint filed by the anti-corruption association AC!!. The French outlet also notes that a search of Vincent Labrune's home (the president of the LFP) as well as the CVC offices occurred this morning (the 5th of November).
In November 2023, AC!! filed a complaint concerning the LFP's deal with the CVC Investment Fund which saw the the league receive 1.5 billion euros for a 13% stake in the league. The investigation was opened on the 16th of July on charges of misappropriation of public funds, active and passive corruption of a public official, and illegal taking of interest according to a judicial source close to L'Équipe.
During the negotiations between the CVC and LFP, there was an agreement to pay the banks and lawyers who had advised the league once the deal had been finalised. L'Équipe alleges that 37.5 million had been set aside, 12 million for each of the two banks involved, 5 million for the law firms, and 8.5 million for the LFP executives – with the French outlet alleging that Labrune received the largest share of the executives.
The investigation is reportedly attempting to determine when the money was distributed, when the bonuses were decided on, and who initiated the payments. The Lawyers for the LFP refused to give comment to the French outlet.
