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May 23, 2013

Atletico ordered to pay $13 million debt

MADRID -- A Spanish court has ordered Atletico Madrid to pay a media company 10 million euros ($13 million) after finding the club had breached a television rights contract.

The court ruled in favor of Mediapro and instructed Atletico to pay money owed from rights ceded to Digital + in June 2012.

The court embargoed just over 5 million euros ($6.5 million) of club assets, pending payment.

The club says it would abide by the ruling and that payment would be made the following day. If payment is not made, the embargo would enable to court to seize the club's income from its participation in the Spanish league, Copa de Rey final, transfer rights, other broadcast rights, ticketing and checking accounts. The court's order is not open to appeal.

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