Bibliographic Details
| Title: |
CVC Office Searched in French Football Deal Corruption Probe. |
| Authors: |
Regan, James (AUTHOR) |
| Source: |
Bloomberg.com. 11/5/2024, pN.PAG-N.PAG. 1p. |
| Subject Terms: |
*Private equity, Political corruption, Public officers, Corruption investigation, Soccer |
| Company/Entity: |
CVC Capital Partners Ltd. |
| Abstract: |
French financial prosecutors searched the offices of CVC Capital Partners and France's football governing body as part of an investigation into possible corruption related to a deal between the Ligue de Football Professionnel and CVC. The agreement, announced in April 2022, involved CVC taking a 13% stake in the league's commercial subsidiary, LFP Media, in exchange for a €1.5 billion investment. The investigation is looking into potential misuse of public funds, corruption of a public official, and unlawful conflict of interest. The LFP stated that they are cooperating fully with authorities and have always acted in compliance with regulations and in support of French soccer. [Extracted from the article] |
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| Database: |
Business Source Complete |
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