Grupo Televisa has paid a £95 million settlement after it was accused of bribing FIFA officials to win bids to broadcast the World Cup ©Getty Images

Grupo Televisa has reached a $95 million (£78 million/€89 million) settlement to resolve a United States investor lawsuit that accused the Mexican broadcaster of bribing FIFA officials for World Cup hosting rights.

The settlement was paid in cash and filed last week in Manhattan Federal court, with a judge's approval now required.

It was part of the 2015 FIFA corruption case which revolved around collusion between officials of continental football bodies and sports marketing executives.

Televisa was accused of artificially inflating its American depositary receipts (ADR) by concealing how it planned to obtain hosting rights for the 2018, 2022, 2026, and 2030 tournaments through bribery, while publicly expressing its commitment to ethical business practices.

An ADR represents a foreign company's securities and allows its shares to be traded on US financial markets.

Investors claim that they lost money as the bribery allegations became known during trials in New York City, which caused the ADR price to fall.

Televisa denied any wrongdoing, despite agreeing to pay the settlement,

Law firm of the prosecution Boies, Schiller and Flexner are thought to seek up to $28.5 million (£23 million/€26 million) of the settlement in fees and $3.5 million (£2.9 million/€3.2 million) for expenses.

Mexico is set to host the 2026 FIFA World Cup alongside the United States and Canada ©Getty Images
Mexico is set to host the 2026 FIFA World Cup alongside the United States and Canada ©Getty Images

The company represented lead plaintiff Palm Tran Inc Amalgamated Transit Union Local 1577 Pension Plan of Atlanta.

The US Attorney in Brooklyn unveiled its probe into international football corruption in 2015 which has resulted in more than 40 defendants criminally charged with at least 31 pleading guilty.

Former 21st Century Fox executives Hernan Lopez and Carlos Martinez and Argentine sports marketing company Full Play Group are all currently on trial as part of the operation.

Former Brazilian Football Confederation President José Maria Marin and ex-South American Football Confederation head Juan Ángel Napout were convicted at trial in 2017.

The US investigation led to calls for then FIFA President Sepp Blatter to resign from his position but he announced that he would only leave the role if beaten in an election, although he did step down in June 2015 shortly after being re-elected for a fourth time. 

Last year, Blatter avoided jail time, alongside former UEFA President Michel Platini, after they were banned from football activities in October 2015.

They faced corruption charges after Platini was paid CHF2 million (£1.7 million/$2.1 million/€2 million) by FIFA in 2011 but were acquitted in July.

Mexico is set to co-host the 2026 FIFA World Cup alongside the US and Canada.