SINGAPORE - The media agency that gave the Football membership of Singapore (FAS) its biggest-ever partnership treaty - a $25 million, six-year exclusive rights taking over - in 2015, is set to wind up, past doubts now hanging higher than the issue of recovering some $3 million in unpaid rights fees.MP & Silva (MPS) has witnessed its London headquarters confirmed insolvent by Britain's tall Court of Justice, and its Singapore office is now set to follow upon the same path.On Nov 19, PricewaterhouseCoopers' (PwC) Goh Thien Phong and Chan Kheng Tek were appointed as provisional liquidators of MPS after the company fixed that existing liabilities designed that it was unable to continue act out business. The Accounting and Corporate Regulatory Authority's (Acra) website lists MPS' status as "in liquidation - creditors' voluntary winding up".MPS' accounts have been frozen, its staff contracts terminated, and all its inborn assets auctioned off for some $22,000. A visit to its Singapore headquarters at Infinite Studios, just off Portsdown Avenue upon Friday, confirmed the fact: The MPS make known upon the wall was all that remained in what was an empty office.A meeting for MPS' creditors was held upon Dec 12 at PwC's offices, past the company's full pronouncement of accounts presented. The Straits times understands that representatives of the FAS were present at the meeting, in a bid to recover monies from MPS. A former MPS employee who was present revealed that creditors were informed that not a single shareholder of the company turned going on at an fabulous general meeting scheduled earlier that day."We had to war in the best interests of the company as capably as its creditors. We couldn't continue act out issue - and paying salaries - past the company was pretty much stuck in a disclose where it couldn't truly do business," he said, upon condition of anonymity. combined StoryFootball: FAS looking to claim unpaid rights fees from media agency MP & Silva
"It was inevitable that one of our creditors would file for liquidation past it happened in the UK."MPS was founded in 2004 by Italian businessmen Riccardo Silva and Andrea Radrizzani, the owner of English Championship side Leeds United. below their leadership, it became the biggest performer in the global sports media rights market, holding the puff rights to major competitions such as the top English, German and Italian leagues, and Formula One.The pair sold a 65 per cent stake to Chinese companies Everbright Securities and Beijing Baofeng Technology for US$1 billion (S$1.38 billion) two years ago.Problems started to surface soon after.MPS reportedly futile to create payments to several new creditors, including the English Premier League, Italian Serie A, and German Bundesliga.On Dec 1, The times of London reported that PwC was seeking a tall Court order to appoint it as provisional liquidator in order to prevent a "scramble" for 4.32 million (S$6.75 million) in the bank accounts of MPS' Irish subsidiary, which reportedly owes 55.3 million to creditors.Across the Causeway, MPS' 15-year, RM1.2 billion (S$395 million) treaty past the Football membership of Malaysia (FAM), with signed in 2015, was been terminated and the issue is now below arbitration.Its Singapore office with faced issues.Sources revealed that MPS' society president and chief paperwork Seamus O'Brien, who joined lonesome in January, left the organisation in August.He was followed out the entrance by Wu Swee Sin, MPS' Asia-Pacific managing director, along past several new management-level staff, leaving what sources freshen was a skeleton crew of junior staff numbering fewer than 10.The long-lasting staff had their hands tied because of the company's authentic issues and are understood to have conducted tiny to no issue higher than the last five months.ST understands that long-lasting employees had their contracts terminated in mid-November without any guarantees of inborn adequately paid for the one-month pronouncement required before the dissolution of contracts. Staff were asked by liquidators to go along with proof of what the company nevertheless owes to them, and have already provided the required documentation.Staff are usually the first creditors paid past a company undergoes liquidation, but that can lonesome happen after liquidators - in this war PwC - receive a court order to liquidate.
Cristiano Ronaldo insisted he has no immediate plans to retire from international football after helping Portugal lift the inaugural Nations League on Sunday. Ronaldo, 34, was a peripheral figure as Goncalo Guedes's goal won an underwhelming final against the Netherlands 1-0 in Porto. But after
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"With clubs not used to this level of scrutiny, there may be some level of trepidation but again, this will only ensure a higher level of transparency and accountability in Singapore football." ( @ JoseRaymond / @ TODAYonline ) # SGPL # sgfootball
Kia Tong Lim is Deputy Chairman, Disciplinary Committee at Fédération Internationale de Football Association. View Kia Tong Lim's professional profile on Relationship Science, the database of decision makers.
Zainudin bin Nordin, Member of the Bishan-Toa Payoh Group
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11:59 AM ET Burnley beat Fulham 2-1 at Turf Moor on Saturday thanks to two own goals to make it three straight league wins for Sean Dyche's side and leave the visitors deep in relegation danger.
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NICE, France,: Sweden produced a breathtaking display of attacking football to thrash Thailand 5-1 in Nice on Sunday and book their place in the last 16 of the women's World Cup.
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