Mediapro: the Football League seizes the Commercial Court of Paris
The situation between the Professional Football League (LFP) and Mediapro is getting more tense every day. As a reminder, the very fresh major broadcaster of the championship, through its Téléfoot channel, has not paid its deadline of October 5, in the amount of 172 million euros, concerning the TV rights of Ligue 1 and Ligue 2 The Spanish group also asked to renegotiate the amount signed for the 2020-2021 season (780 million euros). An announcement that started the storm in French football.
Mediapro turned to the Nanterre Commercial Court to attempt mediation but was opposed by Vincent Labrune, the new boss of the LFP. To deal with the most urgent and not to leave the clubs without resources, the LFP contracted a loan of 120 million euros (the funds of which will be released before the end of the month) and took 50 million euros from its own funds ( which will be distributed in the coming days).
A vital windfall for clubs
But she intends to get Mediapro to checkout. According to information from the Team, the pro football body thus seized the Commercial Court of Paris to summon Mediapro’s reference shareholder, Joye Media SL, to activate its guarantee which appears in the contracts signed between the two parties two years ago. . Joye Media SL, based in Madrid, has a turnover of around 2 billion euros and owns, among others, 53.5% of Mediapro. The objective is to go directly to recover the funds in Spain. But the game is not yet won …
For clubs, the financial windfall of TV rights is vital. “Without them, we file for bankruptcy in January, explained in our columns Fulvio Luzi, the president of FC Chambly (L 2), which presents a budget estimate of 7.25 million euros including 4.8 of TV rights. I am very worried, sighs Fulvio Luzi, the president. One thing is certain: what is happening does not correspond to what we were told … “
Article original de: www.leparisien.fr