MP & Silva

Last updated

MP & Silva Limited
IndustryMedia rights management
Founded2004
Founders Riccardo Silva
Andrea Radrizzani
Defunct17 October 2018 (2018-10-17)
FateLiquidation
Headquarters
London
,
England
Area served
Worldwide
Owner Everbright Securities and Beijing Baofeng Technology (65%)
Website mpsilva.com

MP & Silva Limited was an international sports marketing and media rights firm based in London. Founded in 2004 by Italian businessmen Riccardo Silva and Andrea Radrizzani, the company was primarily involved in the acquisition and international resale of media rights for sporting events. [1] [2] [3]

Contents

At its peak, in 2016, the company was valued around US$1 billion. [4] At this time Riccardo Silva, and his partners including Andrea Radrizzani, sold the company and a majority stake was acquired by two Chinese firms.

In October 2018, the company was ordered into administration over a multitude of missed rights payments.

History

MP & Silva began in 2004 with the acquisition of the global rights distribution of selected Italian Serie A football teams. [5] In 2006, the company acquired the rights for the majority of Serie A teams. The first headquarters office opened in Singapore in 2007. By 2009, the company's portfolio principally consisted of media rights of European football leagues being distributed to Asian TV broadcasters. In 2010, MP & Silva headquarters moved to London where they started working with Arsenal. The company acquired the pan-European rights for the French Open in 2011. [6]

In 2013, MP & Silva secured the Premier League's broadcast rights in 51 territories, including the Middle East. The agency also bought Formula One rights in MENA and some selected European countries. [7] [8] [9]

On 20 July 2014 MP & Silva abruptly terminated the broadcast contract with CPBL to distribute Taiwan's professional baseball games in the local media, citing a breach of contract by the league. However, the company did not go into detail what terms of the 6-year, NT$2.04 billion contract – signed just at the beginning of 2014 – were breached. CPBL, in response to the surprise move, maintained that it has not breached any of the terms in the contract and demanded the company to provide an open and clearer explanation of what it called an "ambiguous and unilaterally issued" press statement. [10]

At the beginning of 2015, the company announced its expansion in the United States market [11] and its acquisition of European rights to the National Football League. [12]

In May 2016, Chinese companies Everbright Securities and Beijing Baofeng Technology bought a majority 65% stake of MP & Silva. The purchase was made through a strategic partnership, the Shanghai Jin Xin investment fund. [13]

The company began to face significant struggles under the Chinese majority ownership. In July 2018, it was reported that the company had missed rights payments to entities such as the Premier League (where it held rights in the Asia-Pacific region) and Scottish Professional Football League. Both entities cut their ties with MP & Silva. On 27 July 2018, the Serie A sued MP & Silva over nearly €38 million in unpaid fees. [14] Arsenal F.C. and the International Handball Federation also terminated its contracts with MP & Silva. The French Tennis Federation petitioned in the High Court of Justice for the winding up on MP & Silva under the Insolvency Act 1986. [15] [16] [17] [18] [19] [20]

On 17 October 2018, the High Court ordered the winding-up of MP & Silva. [21]

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References

  1. ↑ "The big interview – MP & Silva". Sports Industry Groups. Archived from the original on 12 November 2012.
  2. ↑ "Italian volleyball 'breaks a stunning record' with MP & Silva". SportsPro.
  3. ↑ "Media Company MP & Silva Puts Sports on YouTube With Rightster". Bloomberg.
  4. ↑ "European Sports Hit by Collapse of Agency Once Worth $1 Billion". Bloomberg. Retrieved 1 November 2018.
  5. ↑ Panja, Tariq (28 November 2011). "MP & Silva Renews Serie A Overseas Media Rights for 3 Seasons – Bloomberg Business". Bloomberg L.P. Retrieved 8 April 2015.
  6. ↑ "MP & Silva win European broadcast distribution rights for French Open from EBU". Insidethegames.biz. 12 June 2011. Retrieved 8 April 2015.
  7. ↑ "Motor racing-Formula One secures TV rights deal for Middle East". Reuters. 19 December 2013.
  8. ↑ "MP & Silva assumes dominant position in agency market with new Premier League deal". Goal.com. 19 February 2013. Retrieved 8 April 2015.
  9. ↑ "Premier League sells Middle East and Africa TV rights". BBC News. 31 January 2013.
  10. ↑ MP & Silva ends CPBL distribution contract
  11. ↑ "02/23/15: MP & Silva set sights on US marketCynopsis Media". Cynopsis.com. 23 February 2015. Retrieved 8 April 2015.
  12. ↑ "MP & Silva to distribute NFL rights in Europe next five seasons | Sport". The Guardian. Associated Press. Retrieved 8 April 2015.
  13. ↑ "Baofeng and Everbright establish partnership with MP & Silva to drive growth – MP & Silva". www.mpsilva.com. Retrieved 19 June 2018.
  14. ↑ "Exclusive: Serie A takes MP & Silva to court for €38m in unpaid rights fees". SportBusiness Group. 27 July 2018. Retrieved 10 October 2018.
  15. ↑ "SPFL tears up broadcast agreement, claiming a default in payments". BBC Sport. 13 August 2018. Retrieved 10 October 2018.
  16. ↑ "SPFL agree international rights deal with Infront after termination of MP and Silva deal". BBC Sport. 31 August 2018. Retrieved 10 October 2018.
  17. ↑ "Is China-owned MP & Silva about to become the biggest fail in sports marketing history?". South China Morning Post. Retrieved 10 October 2018.
  18. ↑ "MP & Silva in 'state of paralysis' after missing rights payments". SportsPro. Retrieved 10 October 2018.
  19. ↑ "MP & Silva dealt further blow as IHF terminates contract". SportsPro. Retrieved 10 October 2018.
  20. ↑ "MP & Silva heads to High Court as FFT issues winding-up petition". SportsPro. Retrieved 10 October 2018.
  21. ↑ "MP & Silva wound up in UK High Court" . Retrieved 17 October 2018.
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