CAPE TOWN – African football's ruling body has scrapped a $1 billion television and marketing rights deal with Lagardere Sports in the wake of separate judgments that it breached competition rules, but Lagardere said it would fight to enforce the contract.
The French-based company called the Confederation of African Football's (CAF) move "unlawful, unreasonable and unjustified" and said it would defend its agreement with CAF that runs from 2017 to 2028.
It suggested that it may accept changes to the terms of the deal but that if all else fails it would seek compensation in cash.
CAF said it had no choice but to cancel the deal after two court judgments went against it.
A Cairo court ruled last November that the agreement breached "Egyptian competition rules because Lagardere was appointed as CAF's exclusive agent for marketing and media rights for an uninterrupted 20-year period without any open tender," CAF said in a statement on Friday.