New information coming through to MTNFootball is that CAF have lost its bid to terminate Lagardere’s broadcasting rights contract.
It is reported that the France-based company signed the deal with CAF in June 2015 and it is set to run to its full conclusion after CAF’s legal team failed to find loopholes to terminate the deal.
Instructed by the new CAF boss, Ahmad Ahmad, the lawyers have told the continental football governing body that the deal was water tight and could not be breached in anyway.
A report by Soka25East has it that the deal means Lagardere Sports will continue to hold broadcasting rights for all major CAF tournaments until 2028 in return for a financial guarantee of at least $1 billion.
On the other hand, Lagardere gave the Qatari-owned beIN Sports network rights for the Cup of Nations in the Middle East and North Africa.
“When we came to office we sort the advice of top lawyers to see if the CAF/Lagardere deal could be either quashed or reduced but the outcome of their intensive investigations was that the deal was water tight done by brilliant lawyers appointed by Largadere with no loopholes at all therefore it cannot be breached in anyway,” said a source to Soka25east.com in Rabat.
“As CAF we have decided we will honour the deal but we will discuss improvement because of the new development as we will now have a 24 team Afcon instead of the 16 teams when the deal was signed meaning more money should be pumped in to cover for the deficit.
Meanwhile, a few months ago Egypt’s ECA laid charges against CAF which was led by then president, Issa Hayatou and El Amrani, in relation to a broadcast rights deal with Lagardère Sports.
The Egyptian court argued that the company was allegedly given the rights without a formal tender process as required by Egyptian law.