In The Team, Michel Savin, senator from Isère and rapporteur for the fact-finding mission on the intervention of investment funds in football, commented on the agreement between the LFP and CVC. As a reminder, the investment fund paid 1.5 billion euros against 13% of the LFP’s commercial revenue (for life, etc.). During the hearings, Savin was able to hear two different speeches: “We were told that its creation with the arrival of CVC would bring competence, particularly on television rights. However, the presidents that we have seen do not have the same vision, they say that their priority was the provision of financing in an emergency situation. Secondly, the agreement between the League and CVC includes guarantees for the fund, and this is normal given the investment made by CVC, but which can be very detrimental for the clubs if the objectives of the business plan are not achieved. Was it the right choice?”he asked himself.
“Some of the presidents interviewed did not verify anything due to excess confidence”
Savin clearly questions the role of Vincent Labrune: “The clubs seem to have placed excessive trust in the League and they are not around the table with CVC in the commercial company, there are only representatives of the League and CVC. What is the power of the League?” Especially since his salary has exploded: “How can his salary have tripled when as president of the League he has fewer missions since all the commercial and marketing aspects have been transferred to the commercial company? On his parachute, there is a vote of the board of directors of the League in 2020 which says that the president of the League will receive two years of remuneration that he stops himself, whether he is thanked or whether he loses the September election for which he has given us to understand that he wishes to run again. To the extent that he receives €1.2 million in salary (annual) and €1.5 million in bonus corresponding to the agreement with CVC, i.e. €2.7 million, that would give him a parachute of €5.4 million at the expense of the League. When we discuss these figures with the presidents, they say that they did not pay attention to this aspect and that Labrune has worked well…”
This question of VLB remuneration and commissions surprises the Senate committee: “ When we voted on the text of the commercial company, our objective was for it to serve the financial interests of the clubs and not those of the banks, law firms or a few leaders of the League. €37.5 million in commissions were still paid. » And the senator casts doubt on the lucidity of certain club owners: “Club presidents have exceptional professional successes for some, but they trust people who make potentially very difficult decisions for them, without having any real control. Some of the presidents interviewed did not verify anything out of excess of confidence. »
The Senate hearing could lead to possible legislative proposals on state responsibilities. But perhaps it could also generate awareness among Ligue 1 presidents? The situation is actually more than worrying.
