French Football on Brink of Financial Ruin

French Football Close to Financial Ruin

Nice President Had Initial Concerns

Earlier this year, Nice president Gauthier Ganaye raised concerns about Mediapro’s ability to pay the promised sum, saying: “What worries me is: did the league take all the necessary guarantees to make sure that Mediapro could actually deliver and pay the money they said they would?

“We could end up in some serious cash situation for some clubs, so that’s why I really hope the league took all the guarantees and the executives at the league did their work very diligently, to make sure there is no problem further down the line because that could cause massive trouble to French football.”

As it turns out, Ganaye was right to be concerned. Months after the deal was agreed, French football is on the brink of financial ruin following Mediapro’s failure to stick to the initial agreement.

Severe Consequences for Many in French Football

Of course, with Mediapro’s failure to pay, many clubs in Ligue 1 will be left dealing with several severe consequences. As we approach January, too, many clubs may be forced to raise the money through player sales.

This could see a number of stars swap France for another top league in the forthcoming window. The fact is, sacrifices will need to be made, especially by those nearer the bottom Ligue 1, in order to survive.

For now, clubs are surviving off two government-backed loans- the first of which coming as a result of COVID-19 and the second a result of Mediapro’s failed payment in October. Canal Plus are now negotiating to take over the rights with an offer of £700 million per season.