Under its current president Vincent Labrune, the French football league approved in 2022 an investment deal with CVC as part of a new commercial subsidiary in charge of marketing media rights
Representational image. Pic/iStock
French investigators raided offices of the French football league and private equity firm CVC Capital Partners on Tuesday as part of an investigation into possible corruption and embezzlement related to an investment deal, a judicial official said.ADVERTISEMENTThe searches took place amid an investigation that opened in July into charges of misappropriation of public funds, active and passive corruption of a public official and illegal taking of interest, the judicial official told The Associated Press.Under its current president Vincent Labrune, the French football 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 (USD 1.6 billion) in return for a 13 per cent stake in the new commercial subsidiary managing TV rights, valuing the entire capital of the commercial subsidiary at 11.5 billion euros.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
French investigators raided offices of the French football league and private equity firm CVC Capital Partners on Tuesday as part of an investigation into possible corruption and embezzlement related to an investment deal, a judicial official said.
ADVERTISEMENT
The searches took place amid an investigation that opened in July into charges of misappropriation of public funds, active and passive corruption of a public official and illegal taking of interest, the judicial official told The Associated Press.
Under its current president Vincent Labrune, the French football 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 (USD 1.6 billion) in return for a 13 per cent stake in the new commercial subsidiary managing TV rights, valuing the entire capital of the commercial subsidiary at 11.5 billion euros.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
