The call AFAGate It stopped being a one-time scandal to become an international investigation that mixes sports businesses, million-dollar transfers and business structures in United States and Europe. Behind the revelations appears the work of journalist Nicolás Pizziwho for months, together with a team of journalists from the newspaper La Nación, reconstructed a financial framework that, according to him, “is just a partial photo of a film that has not yet finished.”
Through bank documentation, commercial records and new leaks, the investigation exposed how intermediary companies handled income linked to the selection Argentina abroad, raising questions about the final destination of more than 260 million dollars.
What is AFAGate and why the case transcends Argentine football
He AFAGate focuses on a financial scheme that would have channeled payments from international sponsors and commercial rights to companies incorporated outside of Argentina. The mechanism included signatures on Miami and a Spanish company based in Madrid that, at different stages, acted as commercial agents.
According to recent publications, Odeoma Gestión SL received more than 30 million dollars in commissions related to commercial agreements of the national team. With the sporting growth after the Copa América and World Cup titles, the business volume multiplied and the operation moved to the United States through LLC structures.
For Pizzi, the economic growth of Argentine soccer was key to understanding the magnitude of the case. “Everything exploded when Argentina started winning. Without those titles, that money probably wouldn’t have come in,” he explained.
The pendrive that changed the investigation: “It was a treasure with all the history”
The starting point was unusual even for a journalist accustomed to investigating political corruption. Pizzi received a flash drive with complete banking documentation, something he describes as a once-in-a-lifetime opportunity.
“It was like a treasure that had to be processed. You didn’t have to go out and look for the story, the story was there,” he said. However, he clarified that the documents alone do not build an investigation: “An accounting record does not write a journalistic note. You have to give it context, check it and understand who is behind it.”
For four years, the accounts analyzed showed constant transfers of hundreds of thousands of dollars, many over a million, made almost daily. What surprised the team most was that, despite the volume of money, no visible bank alerts had been activated.
Ghost companies in Miami: how the LLCs that received millions worked
One of the most recent findings describes the existence of two companies created on the same day, by the same person and at the same address in Miami. Both received almost five million dollars and were dissolved shortly after.
“They opened, charged and disappeared. I went to the address and it was a virtual office with no one,” said the journalist. For him, these types of structures demonstrate a model designed to move money through intermediaries without verifiable commercial activity.
The analysis of the accounts revealed that both income and expenditure of money went exclusively through companies registered in the United States. “The maneuver was carried out entirely here: American companies, American banks and transfers made from Miami,” he explained.
Comparison with FIFA Gate: an even bigger scandal?
The parallel with FIFA Gate appears constantly, although Pizzi believes that the economic volume of AFAGate could surpass the case that shook world football a decade ago.
“In FIFA Gate there was talk of about 150 million in bribes. Here we account for more than double that and we still haven’t finished processing everything,” he stated. Unlike that scandal, this investigation is based on complete bank records, something that the journalist considers unprecedented outside of a formal judicial case.
Obstacles to sports investigative journalism: the silence of sources
Despite the strength of the documentation, obtaining testimonies was one of the biggest challenges. Pizzi said that before the first publication they contacted more than 25 people linked to the case.
“Two attended to us. The rest didn’t want to know anything,” he recalled. As he explained, about 90% of the protagonists refused to speak, something that could normally stop an investigation. However, the team decided to move forward based on financial records.
“The material was so powerful that the story practically built itself,” he said.
The cultural and political impact of AFAGate in Argentina
Public interest was sustained for months, something unusual even for high-impact investigations. For the journalist, this responds to a previous context of wear and tear among fans and questions about the management of football.
“When people are already tired of how everything is handled, any revelation explodes much more,” he said. In his opinion, the discussion on refereeing, tournament formats and managerial decisions created a favorable climate for the research to generate constant impact.
World, politics and American justice: the factor that can change everything
The fact that a large part of the operation was carried out in the United States opens the possibility of a federal investigation. Pizzi confirmed that the FBI and the Department of Justice would have become aware of the case, although for now there are no public announcements.
“In the United States they work in silence. The day they decide to move forward, it could be like FIFA Gate, when no one knew anything and suddenly they stopped everyone,” he explained.
The sports calendar adds an element of tension: the World Cup is getting closer and the United States will be one of the main venues. For the journalist, political timing could delay judicial decisions. “Nobody wants a scandal four months before the tournament, but sooner or later this is going to have consequences,” he said.
The role of journalism and the motivation behind the investigation
After more than 30 years investigating corruption, Pizzi maintains that the motivation remains the same: to tell stories that provide transparency. He recognizes that journalism is a profession of risks and few financial rewards, but insists that the end goal justifies the effort.
“Journalism is discovering something new and making a contribution. If you are not motivated by that, it is very difficult to continue,” he said.
AFAGate, far from closing, continues adding chapters. New companies appear on the books, new leaks provide context, and public interest continues unabated. Meanwhile, the investigation has already made something clear: the business of modern football is not only played on the field, but also in complex financial structures that are today under international scrutiny.
