Spanish TV group Mediapro has, after all, lost the Italian Football TV rights after Serie A refused its down payment of €1.6 billion to retain the rights.
In a statement, Serie A said that the “guarantees presented at the last minute by the Spanish intermediary Mediapro” were not sufficient and did not meet their requirements.
Only yesterday Mediapro had strongly believed the “deposit” offer would have allowed them to reclaim the selling rights.
This is a significant setback to Mediapro in its International expansion plans. In addition, the company has lost the €64 million deposit initially made to bid for the rights.
The bidding process will now restart.