The Professional Football League (LFP) has put Mediapro on formal notice to settle its television rights deadlines. Otherwise, it does not rule out turning to other broadcasters. The Sino-Spanish group, main broadcaster of Ligue 1, holders of the rights to L1 and L2 for the period 2020-2024 against 814 million euros annually, did not honor the 2nd payment of 172 million euros on October 5.
Mediapro boss Jaume Roures has engaged in a standoff with the League, demanding a delay in payment – which he has been denied – and a renegotiation of lower rights, which Mediapro exploits through its new Téléfoot channel.
According to a letter from the LFP sent to club presidents, Mediapro has entered into a mediation procedure with the Nanterre commercial court, which allows companies to negotiate with their creditors. “The LFP has done well, as the procedure requires, a proposal to the ad hoc representative, specifies Arnaud Rouger, new general manager of the FFF. This was followed by a response from Mediapro which was totally unacceptable given the financial uncertainties for the clubs. “
“Formed to settle the deadlines of October 1 and 5”
In its letter, the LFP also said not to rule out turning to other operators and informed the clubs in a recent letter to them. “We therefore applied the contract that binds us with Mediapro and put them on notice to settle the installments of October 1 and 5, while activating the guarantee given by the parent company of the Mediapro group, the Chinese fund Orient Hontai Capital” , writes Arnaud Rouger.
“The current mediation blocks the use of the deposit” of the parent company, nevertheless specifies a source close to the case. “The LFP is going through what many very small businesses are going through (Editor’s note: very small businesses) and SMEs in France, with a supplier who does not pay. “
The board of directors of the LFP met Thursday morning to validate a loan aimed at compensating for the amounts that Mediapro refuses to pay to the clubs, of which about a third of the income, on average, depends on TV rights.
Article original de: www.leparisien.fr