MP & Silva, "once the biggest fish in the global sports media rights market," was officially wound up following an "extended wrangle with weakening finances, unpaid dues to rights holders and mounting litigations," according to Ashish Khanna of INSIDE SPORT. The U.K. High Court of Justice ordered the winding up of MP & Silva after a petition filed by the French Tennis Federation (FFT) to "dissolve" MP & Silva was heard on Oct. 10 and adjourned to Oct. 17. The FFT on Thursday "successfully sought a usual compulsory order," meaning MP & Silva will be "wound up pursuant to the Insolvency Act 1986" and the petitioner's costs will be paid out of the company's assets. The FFT petition had two supporting creditors: former MP & Silva CEO Jochen Lösch and professional services company Grant Thornton, which is understood to have been the agency's auditor. While Lösch was present in court on Wednesday, no other representatives from MP & Silva or its owners were present. The agency also has pending litigation with FIFA "over its advisory contract for rights to the 2018 and 2022 World Cups" (INSIDE SPORT, 10/18).
