LONDON--(BUSINESS WIRE)--Regulatory News:
Following the decision by CAF to unilaterally cancel its agency agreement with Lagardère Sports (Paris:MMB), Lagardère, in accordance with the contractual provisions, initiated emergency arbitration proceedings – aimed at keeping the contract in force pending the arbitration on merits – before the International Chamber of Commerce (ICC) in Geneva.
On December 13th, while the emergency arbitrator rejected these interim measures, he did not rule on the merits of the case as this was not within his remits.
Consequently, the outcome of the emergency proceedings does not in any way predetermine the outcome of any future arbitration on the merits of the case.
Under these conditions, Lagardère will steadfastly continue as planned to proceed with the broader, more encompassing arbitration (arbitration on merits) to obtain compensation from CAF.
Lagardère Sports is an established, respected company that has served CAF for many years with efficiency, loyalty and dedication, working collaboratively to grow African football and bringing the games to thousands of new fans each year. As such, the Lagardère group deems the actions of CAF to be unwarranted and will take all action at its disposal to defend its interests, mitigate the impact of any immediate harm to its business and protect the interests of its shareholders.
About Lagardère Sports:
Lagardère Sports and Entertainment is a leading sport and entertainment agency, with a global network of local experts dedicated to delivering innovative solutions that meet our clients’ needs. We believe sport and entertainment inspire emotions and passion that are essential to enrich people’s lives and generate powerful collective experiences. At Lagardère Sports and Entertainment, we dedicate our expertise and passion to provide our clients with privileged access to the infinite opportunities of sport and entertainment. Lagardère Sports and Entertainment has more than 1,700 employees worldwide and 50 years of experience in sport.