Italian soccer clubs seek jumbo compensation in broadcast rights case
26/07/2024 09:53
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2019 antitrust ruling found bidding cartel among media
agencies
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Clubs say curbed competition cuts rights sales' proceeds
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Compensation claims top 3 bln euros in aggregate-lawyer
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League open to out-of-court settlement, possible sale of
claims
By Elvira Pollina
MILAN, July 26 (Reuters) - Top Italian soccer clubs are
seeking billions of euros in damages from three media agencies
for alleged lost revenues from the sale of international
broadcasting rights in 2008-2018, a court document and legal
sources involved in the matter said.
The dispute follows a 2019 Italian antitrust ruling which
found that media agencies IMG, MP & Silva and Be4 coordinated in
bidding for the rights, restricting competition.
The antitrust decision prompted nearly two dozen clubs,
including AC Milan, Inter Milan, Torino, Fiorentina and the
Serie A league itself, to sue the agencies in a Milan court, the
sources and the document said.
Serie A is seeking around 1.8 billion euros ($2 billion) in
lost revenues, the document showed.
Francesco Anglani, a partner with the BonelliErede law firm
which represents teams including Torino, Fiorentina and AS Roma
in the case, said the individual clubs' damage claims in
aggregate surpassed 3 billion euros.
"This is the first time that an antitrust damage action has
been brought in Italy for such significant amounts," he said.
The media agencies have rejected any responsibility and said
proceeds generated from the sales were in line with market
prices, the document showed.
Serie A collected about 1 billion euros from the sales of
international media licenses covering the decade from 2008.
Broadcasting rights are the main revenue source for Italian
clubs but have proved far less lucrative than for England's
Premier League and Spain's La Liga.
Some of the clubs involved in the action have been relegated
to lower leagues.
"We have meritorious defences to the claims raised and will
continue to defend ourselves vigorously," an IMG spokesperson
told Reuters, adding IMG could not comment beyond that on a
confidential legal matter.
Representatives of MP & Silva, which has ceased to operate
and is been liquidated, could not be reached for comment. A
lawyer for MP & Silva said they were not authorised to comment.
Lawyers for Be4, which also is being liquidated, did not
respond to a comment request. Be4 representatives could not be
reached. Serie A declined to comment.
Court-appointed experts are set to assess the size of any
damages by April 2025, said two sources familiar with the case.
The court will later decide on the actual merits of the claims.
Serie A has sought an out-of-court settlement but
negotiations were fruitless so far, said two other sources with
knowledge of the matter. The league is also considering selling
the claims to specialised investment funds to bring in cash
faster for its clubs, the two sources added.
($1 = 0.9217 euros)
(Reporting by Elvira Pollina; Editing by Valentina Za and
Christian Schmollinger)
((elvira.pollina@thomsonreuters.com;))