The International Court of Arbitration has asked sports management firm World Sport Group (WSG) to pay $27.9 million (Rs 184 crore) to a unit of Multi Screen Media over a 2009 dispute related to broadcast rights for the Indian Premier League cricket tournament.
A WSG spokesperson said the company was surprised and disappointed by the order. Lagardere Sports & Entertainment, WSG's French parent, has made a statement to the financial markets on this matter in accordance with regulat ..
The Int'l Court of Arbitration asked sports
management firm World Sport Group to pay $27.9M to a unit of Multi Screen Media "over a 2009 dispute related to
broadcast rights for the Indian Premier League cricket tournament," according to Ravi Teja Sharma of the ECONOMIC TIMES. A WSG spokesperson said that "the company was surprised and disappointed by
the order." Lagardère Sports & Entertainment, WSG's French parent, said, "As the proceedings and the decision of
the ICA are confidential, we are unable to comment further." The tussle between MSM, which
owns Sony Entertainment Television, and WSG started over a Rs 425 crore
facilitation fee that MSM had agreed to pay WSG in '09 "to stay away
from a contract renegotiation for the IPL broadcast rights" (
ECONOMIC TIMES, 11/21).
