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Argentina’s Central Bank Opens FX Probe Into AFA Over About $240 Million in Foreign Inflows

Investigators allege the association recoded sponsor and media payments during the cepo years to bypass conversion at the official exchange rate.

Overview

  • The regulatory case names the AFA as an entity and identifies president Claudio "Chiqui" Tapia and treasurers Pablo Toviggino and Alejandro Nadur as subjects.
  • Preliminary tallies flag roughly $131.3 million plus about €95 million tied to Adidas sponsorship, broadcast deals, and transfers from FIFA and Conmebol.
  • Key contracts under review include nearly €95 million from Adidas, around $65 million from ARG Football Distribution, and about $45 million from Fox/Imagen Satelital.
  • The BCRA focuses on 2020–2021 transactions and says it sought documentation seven times since September 2024, with formal notifications to the AFA now expected.
  • Authorities are also examining a shift in banking to BST and potential use of financial-dollar channels like contado con liquidación, with the administrative sumario allowing fines or FX-market ineligibility.