LFP Under Investigation Amid Controversial CVC Agreement
The Ligue de Football Professionnel (LFP) is currently under scrutiny following searches conducted at its headquarters in Paris and the home of its president, Vincent Labrune. This investigation, confirmed by L'Equipe and reported by various media outlets, pertains to a controversial financial agreement made between the LFP and the CVC investment fund in April 2022. The deal, which involved a substantial investment of 1.5 billion euros for a 13% stake in LFP's revenues, has drawn significant criticism and raised concerns regarding the management of public funds.
In response to the searches, the LFP issued a statement affirming its commitment to transparency and cooperation with the judicial authorities. The league emphasized its dedication to French football and adherence to legal standards, stating that the ongoing investigative actions will affirm the legitimacy of its operations. The LFP's press release highlighted that it is providing all necessary information to assist with the investigation, which is being conducted in a calm and orderly manner.
Background of the CVC-LFP Agreement
The agreement with CVC was intended to provide financial relief to Ligue 1 clubs, which had suffered significant losses due to the COVID-19 pandemic. However, the terms of the deal, which grants CVC a lifelong share of the LFP's revenue, have sparked debate about the long-term implications for French football's commercial rights. The National Financial Prosecutor's Office (PNF) initiated a preliminary investigation into the agreement last March, following a complaint from the Anti-Corruption association, questioning the legality of the LFP's decision to cede its commercial rights. This ongoing investigation reflects broader concerns about financial governance within professional sports organizations.
