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Mediapro places itself under court protection from creditors

Company wants to renegotiate the price of the broadcast rights to France's top football league.

Spanish production group Mediapro has reportedly put itself under the protection of the commercial court of Nanterre as it battles financial difficulties due to Covid-19.

According to French newspaper Les Echos, the French football league governing body LFP has agreed to the mediation process, while moving to take on a loan so that Ligue 1 clubs can receive their usual broadcast rights payments.

Mediapro wants to renegotiate the price of the rights to France’s top football league, Ligue 1, which it acquired in 2018, and cover the 2020-24 period.

The company’s president Jaume Roures said that the LFP should accept a lower payment for the current season, in view of the exceptional conditions brought about by the Covid-19 crisis.

The LFP has previously rejected a request by Mediapro to have more time to pay the latest installment on the rights, around €172 million. LFP president Vincent Labrune said he expected Mediapro to meet its financial commitments with the support of China’s Orient Hontai Capital, which owns 53 per cent of Mediapro’s parent company Imagina.