The Lagardère Sports agency’s Asia-focused division has been ordered to pay $27.9m (€26.2m) to the MSM Satellite (Singapore) unit of Sony-owned Indian broadcaster Multi Screen Media.
The International Court of Arbitration decision came in relation to a dispute over media rights for the Indian Premier League Twenty20 cricket tournament.
According to the Economic Times newspaper, the dispute surrounded a ‘facilitation fee’ MSM had paid to World Sport Group in 2009. World Sport Group became part of the Lagardère Sports and Entertainment umbrella brand in September.
Lagardère Sports, which has a 70-per-cent stake in the division formerly known as World Sport Group, said it “acknowledges the decision… ordering the reimbursement of past proceeds, related to a commercial contract with MSM Satellite (Singapore)… dating back to 2009.
It added: “Lagardère Sports and Entertainment has mandated its counsels to study all possible legal recourse.”