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FIFA

Argentine firm reaches €106m deal with U.S. in FIFA probe

U.S. prosecutors on Tuesday announced an agreement allowing Argentine sports media Torneos y Competencias SA to pay about $112.8 million to settle charges stemming from a sweeping bribery probe targeting FIFA, soccer's world governing body.

FIFA

U.S. prosecutors on Tuesday announced an agreement allowing Argentine sports media Torneos y Competencias SA to pay about $112.8 million to settle charges stemming from a sweeping bribery probe targeting FIFA, soccer's world governing body.

The deferred prosecution agreement with Torneos, whose former chief executive pleaded guilty last year to engaging in schemes to bribe soccer officials, was approved by U.S. District Judge Pamela Chen at a hearing in federal court in Brooklyn.

Penalties

Under the deal, Torneos agreed to forfeit $89 million and pay a $23.76 million penalty. Prosecutors charged it with one count of wire fraud conspiracy, which will be dropped if it abides by the agreement's terms for four years.

Outside of court, Ignacio Galarza, the company's general manager, said he welcomed the agreement, which is the first with a company in the FIFA corruption probe.

"Today is a great day for us as we start to leave this investigation behind," Galarza told reporters.

In a statement, Brooklyn U.S. Attorney Robert Capers said the company cooperated and is "being given a chance to change the way the business of soccer is done in the future."