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SBD Global/November 1, 2013/Finance
Investigation Into Possible Money Laundering In Argentine Football Canceled
Published November 1, 2013
INVESTMENT FUNDS ON LFP RADAR: The Spanish Football League (LFP) is "now working on regulating the presence of investment funds that are beginning to play a bigger role in the buying and selling of players," according to Ramón Fuentes of MARCA. In La Liga, "investment firms are becoming common for many teams." This is the case with Getafe, Sevilla, Atlético, Sporting, Elche and Valencia, and "the most active investment group is the Doyen Group." Until now, "no club has complained about Doyen's presence." Because of this, the LFP is working on a legal framework to regulate the role of these funds. The aim is to "demand transparency and establish limits on the percentages received in player acquisitions." Any investment group could "only receive a percentage less than what the club receives in a transaction." This will be "a key topic on the table during upcoming negotiations of the next agreement between the LFP and the Spanish Footballers Association (AFE)" (MARCA, 10/31).