EFA suspended Presentation Sports “League sponsors” Contract
The Egyptian Football Association (EFA) has terminated its contract with marketing agency Presentation Company, the Egyptian advertising and marketing company.
The EFA said that Presentation showed a “lack of commitment to provide financial payments” as stipulated by their contract.
The EFA referenced Presentation’s “failure to comply with the contractually prescribed financial payments, despite numerous meetings in this regard, successive alerts by the Federation and repeated promises by the company to pay its obligations, yet the company did not move away from its position”.
According to the EFA, it was owed EGY 89.2m cross five financial payments. The figure given by the EFA does not take into account the relevant taxes and penalties incurred due to the delays in payments.
Presentation was awarded the sponsorship rights contract in a five-year deal announced in 2017.
The EFA said that its recent move to take legal action over the payment came as there was “no clear reason for the delay of the company in paying its obligations”, especially as, the federation claims, Presentation Company adopted its position before the Covid-19 pandemic forced the global shutdown of football.
Presentation Sports, the sports arm of Presentation Company, rose to prominence after challenging the 2015 award of broadcast and sponsorship rights by the Confederation of African Football to Lagardère Sports.