Vincent Labrune, the new president of the Professional Football League, during the PSG-OM match on September 13, 2020. -
FRANCK FIFE / AFP
The emergency plan is activated.
L'Equipe reported on Thursday that the Professional Football League (LFP) has reached an agreement with a foreign bank for a loan of 120 million euros to fill the hole left by Mediapro, which has not paid the 172 million provided for in his contract on October 5.
"The League will add 50 million euros from its own funds to reach the amount owed by Mediapro," said the daily.
500 million loan in total?
This financial transaction was recorded on Wednesday, and will be presented this Thursday to the Board of Directors of the LFP to be validated.
Clubs will receive some of this money at the weekend and the rest at the end of October.
But the League is unlikely to stop there.
As the conflict with Mediapro is not about to find a solution, it is already considering taking out another loan to settle the December 5 deadline.
The amount would be of the same order.
The team
did the math, between these two operations and the PGE (loan guaranteed by the State) contracted at the beginning of May, this would amount to nearly 500 million euros borrowed by the League.
This will allow clubs to survive, but eventually it will be necessary to find an arrangement with the new championship broadcaster to settle the bill at some point.
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