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[SITUATION] · [QUIET] · [POLITICS]

2 clusters · 15 sources · 2 days · First seen 16 days ago · Last updated 15 days ago

Hungarian investigation into FTC subsidy misuse

Overview

The Hungarian Ministry of Interior has filed a criminal complaint with the National Tax and Customs Administration regarding the alleged misuse of approximately 25 billion forints in state subsidies. The funds, originally allocated in 2016 and 2017 for infrastructure and construction at the Népliget sports complex for the Ferencvárosi Torna Club (FTC) Fradiváros project, were reportedly diverted to operational costs and player transfers.

Investigations suggest that 11.2 billion forints were transferred to FTC Labdarúgó Zrt. to finance the acquisition of 38 professional players between 2019 and 2024. Furthermore, authorities raised concerns over Fradiváros Asset Management Zrt., which received 2.8 billion forints in management fees.

The state secretary for sports has ordered the club to repay the subsidies and interest through a lump-sum payment, an installment plan, or a post-audit. FTC president Gábor Kubatov stated the club is cooperating and maintains that their “conscience is clear.”

Entities

Fradiváros · Gábor Emőri · i-Cell Mobilsoft · Hungarian government · Gábor Kubatov

Timeline

15 days ago

[POLITICS] 14 sources
Hungarian Ministry files complaint over 25 billion forint FTC subsidy misuse
The Hungarian Ministry of Interior filed a criminal complaint against FTC regarding the alleged misuse of 25 billion forints in state infrastructure subsidies for player transfers and operations.
16 days ago

[POLITICS] 3 sources
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Sources

24.hu · csakfoci.hu · economx.hu · forbes.hu · g7.hu · gondola.hu · hang.hu · hirklikk.hu · hvg.hu · klubradio.hu · magyarnarancs.hu · mno.hu · nepszava.hu · transtelex.ro · ulloi129.hu