French Senate: "The LFP, as a legal entity, is president of its subsidiary LFP Media" (V. Labrune)

"I need to clarify one thing: while I am president of the LFP, it is the LFP, as a legal entity, that is president of its subsidiary LFP Media. My salary is paid entirely and exclusively by the LFP. It is decided and approved by the board of directors," said Vincent Labrune, president of the Ligue de Football Professionnel, to the French Senate (Sénat) on 26/06/2024.

He spoke during a hearing organised as part of the fact-finding mission on the involvement of investment funds in French professional football chaired by Laurent Lafon (Union Centriste, Val-de-Marne) and whose rapporteur is Michel Savin (LR, Isère).

The main operation targeted by this fact-finding mission of the French Senate's Committee on Culture, Education, Communication and Sport on the "financialisation of football" is the agreement between the Ligue de Football Professionnel and CVC Capital Partners, which provides for the latter to invest €1.5bn in French professional football in exchange for a 13% stake in the commercial company "LFP Media" created in July 2022.

"A service provision contract between the two…