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17 DePaul Bus. & Comm. L.J. 149 (2019)
The International Fight against Corruption in Professional Sports: The Role of Corporate Governance, Regulation and Investigation in Soccer

handle is hein.journals/depbcl17 and id is 169 raw text is: The International Fight Against Corruption in Professional Sports: The Role of Corporate Governance, Regulation and Investigation in Soccer Alexander Daniel Slade, J.D. I. INTRODUCTION For decades, the business world of international sports has shame- fully been subject to increasing levels of corruption. International sports organizations have been rife with fraudulent financial activities including: transactional-based financial crimes, bribery, illegitimate athlete transfers and acquisitions, corporate entities forcing contract negotiations, agent misrepresentation; racketeering, and the violation of financial fair-play rules. These areas of corruption represent situa- tions where both individuals and corporations are choosing to take advantage of behind closed doors financial dealings with limited in- house regulation. These types of corporate activities are taking place in order to avoid state, federal, and international law. Throughout international sports, the problem of money laundering is taking place through financial activities such as sponsorship and ad- vertising arrangements, along with the purchase of clubs, athletes, and image rights. Complex techniques are used to launder money through soccer and other sports, including methods such as cross-border trans- fers, tax havens, and front companies.1 The professional sports industry is challenged with eliminating fi- nancial corruption within its world markets. Many countries are call- ing for its organizations to increase the level of internal regulation and investigation within these sporting bodies, as well as to assess and re- duce external corrupt influences. Through the adoption of new anti- corruption measures and enhanced corporate governance, legal and economic commentators hope that the global sporting industry can be relieved of this detrimental problem. This note will then analyze the fallout of FIFA, whose president, Sepp Blatter, resigned, after numerous officials were arrested for racketeering, fraud, and money laundering. Given the shockwave that occurred throughout the soccer world as a result of these actions, I 1. Problem, TRANSPARENCY INT'L, https://www.transparency.org/topic/detait/sport/ (last vis- ited Mar. 14, 2018). 149

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