URGENT – Searches at the LFP and at the home of Vincent Labrune

This Tuesday, searches took place at the headquarters of the Professional Football League (LFP), located in the 17th arrondissement of Paris, as part of an investigation opened in February 2024 for suspicion of "embezzlement of public funds"These operations were carried out in the presence of the LFP President, Vincent LabruneSearches are also underway at the investment fund's headquarters. CVC Capital Partners and Vincent Labrune's home in Saint-Rémy-de-Provence.

The investigation, led by the National Financial Prosecutor's Office (PNF) and conducted by the Paris research section since July, targets charges of embezzlement of public funds, active and passive corruption of public officials, as well as illegal taking of interests. Its main focus is the sale of 13% of French football rights to CVC Capital Partners in 2022, in exchange for an investment of one and a half billion euros.

These searches come just a few days after the publication of a scathing Senate report denouncing the governance of the LFP. According to this report, the LFP leaders had a personal interest in favoring a total capital raising, because of the associated bonuses. Thus, the president Vincent Labrune would have benefited from a bonus of 3 million euros following this agreement, as well as a tripling of his annual salary, which went from 420 to 000 million euros…