The International Chamber of Commerce (ICC) has endorsed CAF's decision to cancel the 12-year agreement with the French Lagardere group, which has the exclusive marketing rights of African competitions until 2028.
Lagardere had claimed that the Confederation of African Football (CAF) had unlawfully terminated this contract and asked that CAF is required to immediately reinstate the contract.
Meanwhile, the ICC rejected Lagardère's request to immediately reinstate the contract. On its part, CAF welcomed the decision taken by ICC.
In a statement, CAF said the French company would be required to pay all the administrative costs of the arbitration proceedings.
Here is the Full Statement issued by the CAF:
"In the decision, notified on 13th December 2019, the Emergency Arbitrator considered the reasons why CAF terminated the agreement, and rejected all the requests of Lagardere Sports, " the statement read according to the CAF official website.
"Furthermore, Lagardere Sports is ordered to pay the administrative costs of the arbitration proceedings and also to contribute over EUR 60,000 towards CAF legal costs," it added.
"With the support of FIFA, CAF will continue to stand up for the rights of football fans who want to be able to watch African football in their respective countries, and CAF will also safeguard the rights of genuine commercial partners who want to see a healthy, competitive and transparent football business environment in Africa," statement concluded.
On November 8, CAF has canceled the 12-year agreement with French Lagardere group, which has the exclusive marketing rights of African competitions until 2028.
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