Investigators search offices of French soccer league and private equity firm CVC in corruption probe

News > Business News

Audio By Carbonatix

5:50 AM on Tuesday, November 5, 2024

By SAMUEL PETREQUIN

French investigators have raided offices of the French soccer league and private equity firm CVC Capital Partners as part of an investigation into possible corruption and embezzlement related to an investment deal. An judicial official has told The Associated Press that the searches on Tuesday took place amid an investigation into charges of misappropriation of public funds, active and passive corruption of a public official and illegal taking of an interest. Under current president Vincent Labrune, the French soccer league approved in 2022 an investment deal with CVC as part of a new commercial subsidiary in charge of marketing media rights. CVC invested 1.5 billion euros ($1.6 billion) in return for a 13% stake in the new commercial subsidiary managing TV rights.