(News of The South) – The Confederation of African Football (CAF) has scrapped a US$1 billion television and marketing rights deal with French media company Lagardere Sports.
CAF said it had no choice but to cancel the deal after two court judgments went against it for breaching competition rules in Egypt and with the Competition Commission of the Common Market for Eastern and Southern Africa (CCC).
“Termination of the agreement is the legal consequence of the judgments of Egyptian courts and the recommendations and imminent decision of the CCC,” said CAF.
Arnaud Lagardere who is the managing partner of Lagardere was not happy with CAF’s decision, “we have here a very, very strong case and we will do whatever it takes either to maintain the contract, deal with more changes or get a significant amount of cash.
It is really unfair no one should be too candid or naive in this business, I think we don’t deserve such a treatment.”
In 2016, Lagardere signed a 12 year deal with the continent’s football authority as their exclusive agent for the sale of the rights, including broadcast rights, for its competitions, including the Africa Cup of Nations, the African Nations Championship and the CAF Champions League.
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