South Africa: CAF cancels billion-dollar deal with Lagardere Sports

African football’s ruling body has scrapped a US $1 billion television and marketing rights deal with Lagardere Sports in the wake of separate judgments that it breached competition rules, but Lagardere stated it would fight to enforce the contract.

The French-based company called the Confederation of African Football’s (CAF) move “unlawful, unreasonable and unjustified” and said it would defend its agreement with CAF that runs from 2017 to 2028, reported Euronews. 

It suggested that it may accept changes to the terms of the deal but that if all else fails it would seek compensation in cash.

Arnaud Lagardere, managing partner at the French firm, said it would fight CAF’s move, accepting changes if necessary – or seeking cash compensation for the lost business.

“We have here a very, very strong case and we’ll do whatever it takes either to maintain the contract, deal with more changes or get a significant amount of cash,” he said in a statement to reporters on Friday.

“This is really unfair and even if I know that no one should be too candid or naïve in this business, I think we don’t deserve such a treatment.”

Lagardere Sports did not directly address the court or the CCC’s view that its agreement breached competition regulations. Lagardere has been involved in television production of CAF events for almost two decades.

Full Content: Euro News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.