sports

CAF terminates billion-dollar contract with Lagardere Sports

CAIRO – 9 November 2019: The Confederation of African Football (CAF) has cancelled a $1 billion television and marketing rights deal with France’s Lagardère Sports in the wake ofa “legal consequence” of recommendations by two different competition authorities according to CAF statement released on Friday.
The controversial deal was signed by former CAF President, Issa Hayatou, but since Ahmad Ahmad deposed Hayatou as CAF president in March 2017 he announced that the deal will be reviewed.
“Termination of the Agreement is the legal consequence of the decision of ECA, the judgments of Egyptian courts and the recommendations and imminent decision of the CCC.” CAF statement said.
Egyptian Competition Authority (ECA) and the Competition Commission of the Common Market for Eastern and Southern Africa (CCC) investigated the deal, which was worth $1bn from 2017 to 2028.
CAF statement added “Given the above developments, CAF had no choice but to terminate the Agreement.CAF has repeatedly made it clear to Lagardère, including at a meeting this week, that its termination of the Agreement was not an "unilateral decision" as was wrongly presented in Lagardère's recent press release.”



Loading...
Close