Friday, October 23

The LFP calls on the reference shareholder of Mediapro to pay the bill

Vincent Labrune, the new president of the LFP. – FRANCK FIFE / AFP

Entangled in a quagmire not possible since the announcement of Mediapro not to pay the second tranche of TV rights, the LFP does not intend to let it go and intends to assert its rights in court. Thus, as revealed by our colleagues from L’Equipe, the Professional Football League seized the Commercial Court of Paris in order to demand from the reference shareholder of Mediapro (the company Joye Media SL, based in Madrid) activation of the guarantee that appears in the contracts signed between the two parties.

The so-called “joint guarantee” document signed on November 26, 2018 indeed forces the company Joye Media SL to replace Mediapro Sport Francia in the event of default of payment by the main broadcaster of Ligue 1. For the moment, however, the joint guarantee of Jaume Roures, the boss of Mediapro, does not seem to want to hurry to meet his obligations.

A GA must be held on Monday

This is why the LFP found itself forced to contract a loan of 120 million euros to which were added another 50 million (taken from the League’s own funds) in order to pay them urgently to the forty French professional clubs. Without this, many of them would have been unable to pay their players’ salaries. The financial transaction must still be validated Monday morning during the GA of the LFP which will be held by video conference.

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