Daily Reports
Vincent Labrune, the president of the Professional Football League (LFP), was summoned to the Senate on Wednesday to discuss the financialization of French football. During the session, Senator Michel Savin questioned the significant increase in Labrune's salary, which has tripled despite his reduced responsibilities following the creation of a commercial company responsible for marketing TV rights for French championships.
Senator Savin expressed concerns about the lack of transparency and communication towards club presidents, particularly regarding the agreement between the LFP and the Luxembourg investment fund, CVC. Under this agreement, CVC is to pay 13% of its revenues in exchange for a 1.5 billion euro investment in French professional football. Savin highlighted that club presidents are not involved in the decision-making process within the trading company, which is managed solely by representatives from the LFP and CVC.
Labrune confirmed that his annual remuneration had been increased to 1.2 million euros, a decision validated by the LFP's board of directors, which consists of club presidents. He justified the increase by citing his investment and responsibilities, as well as benchmarking against the European market. He clarified that his salary was not directly increased by the commercial company or by CVC.
However, conflicting statements arose during the Senate inquiry. Jean-Christophe Germani and Edouard Conques, directors of CVC in France, claimed that Labrune was not paid for his role as president of the commercial company. This was contradicted by a document presented by Senator Savin, indicating that the commercial company covered 50% of Labrune's salary.
Labrune emphasized that his remuneration is entirely borne by the LFP and is set and validated by its board of directors. Arnaud Rouger, the general director of the LFP, added that it would be impossible for the League not to re-invoice services provided to the commercial company, as this would be considered an abnormal act of management by the tax administration.
- Senator Michel Savin also raised doubts about the potential creation of a new channel by the LFP to broadcast Ligue 1 matches if no agreement is reached with traditional broadcasters. He questioned how clubs would manage to pay salaries in the event that the new channel does not generate revenue until December.
- The inquiry highlights ongoing concerns about governance and financial practices within French football, particularly the role of investment funds like CVC and the transparency of agreements made by the LFP. The Senate commission continues to scrutinize the financial operations and decision-making processes impacting French professional football.
