Premier League wins £164m court battle with former Chinese broadcast partner but unlikely to receive a PENNY
PREM chiefs have won a £164million court battle with their former Chinese broadcast partner.
But they are unlikely to get a PENNY.
League bosses cut their £490m three-year deal with PPTV in September 2020, on the eve of the start of the delayed 2020-2021 season, after the Chinese company reneged on the first payment of £160m.
PPTV claimed the Prem had breached its contract as a result of the pandemic shutdown and promised to lodge a counter-suit to the claim against it.
A High Court hearing ruled in the Prem’s favour and ordered PPTV to pay £157m plus interest and costs, amounting to a total of £164m.
But Premier League chiefs are unlikely to receive any of the money with PPTV owned by the cash-strapped Suning corporation, owners of Inter Milan who were forced into a firesale last summer.
Inter had to sell key players like Achraf Hakimi to Paris Saint-Germain, who bought the full-back for £59m.
The Nerazzurri also let their top scorer from last season Romelu Lukaku go to Chelsea, who splashed a club record £97.5m.
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The club hierarchy's transfer decisions resulted in a fallout in May between them and former manager Antonio Conte, who led Inter to their first Scudetto since 2010.
Conte resigned, just days after winning the Serie A title, and received around £6m in compensation.
The former Chelsea boss took a break from management until he joined Tottenham six months later.
Trading in Suning shares was stopped in June with the company facing debts of £5bn although chief executive Zhang Jindong claimed last month its position had 'stabilised' and that the debt problems were being 'resolved'.
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