French football stares at financial crisis as broadcasters withhold payment

The financial crisis facing football as a result of the coronavirus pandemic has been laid bare in France, where a decision to withhold payments due as part of a broadcast deal for Ligue 1 matches is set to leave clubs reeling.

Canal Plus, the pay TV giant and long-time broadcaster of France's top flight, stated its intention to hold back a scheduled 110 million-euro ($121 million) payment in a letter to the French league revealed by the country's leading sports daily, L'Equipe.

The money is in theory due this weekend and is the equivalent of 15 per cent of the total broadcast