French Tennis Association’s petition for a winding-up order of the sports management and media rights company MP & Silva has been adjourned till October 17 by the High Court of Justice.
The French Tennis Association – The Fédération Française de Tennis – has moved a petition for the winding up of the MP & Silva agency. Sportsbusiness.com has reported that the court had adjourned the case for a week.
The federation has claimed that MP & Silva owes it more than £5m (€5.7m/$6.6m). The agency, which is majority-owned by Chinese companies Everbright and Baofeng, has two supporting creditors.
No representatives from MP & Silva were present at the hearing. The agency had sent a letter to the FFT, via legal firm Norton Rose Fulbright, to say it opposed the winding up order. The judge adjourned the case for one week, until October 17.
In 2011, MP & Silva agreed a five-year deal, from 2012 to 2016, with the FFT to distribute media rights to its flagship French Open grand slam across Europe, excluding France. The deal was later extended by a year, until 2017. The two parties in 2013 extended the agreement for a further four years, from 2018 until 2021.
MP & Silva has defaulted on payments to multiple rights-holders, as reported exclusively by TV Sports Markets in June.