Premier League scores £157m pay out after Inter Milan owner fails to pay streaming deal
The Premier League has been awarded almost $213m (£157m), as well as interest and costs, by the High Court after the collapse of its media rights deal with Suning-owned streaming platform PPTV in China.
The football league terminated its deal with the owner of Inter Milan football club, owned by the Suning Holding Group, in September 2020, after failing to receive a penny of its record £564m deal.
PPTV failed to pay two instalments in 2020 before the deal was terminated.
A first payment of £257m went unpaid and in March 2020, amid financial issues, they failed to make their second payment too, of £160m, according to reports by the Mirror.
It was rumoured that relations broke down following the the UK’s decision to block the Chinese 5G tech giant Huawei, and PPTV was looking to renegotiate.