SINGAPORE - The media agency that gave the Football connection of Singapore (FAS) its biggest-ever partnership agreement - a $25 million, six-year exclusive rights taking office - in 2015, is set to wind up, next doubts now hanging higher than the issue of recovering some $3 million in unpaid rights fees.MP & Silva (MPS) has witnessed its London headquarters avowed 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 settled that existing liabilities intended that it was unable to continue perform 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 every its being assets auctioned off for some $22,000. A visit to its Singapore headquarters at Infinite Studios, just off Portsdown Avenue upon Friday, avowed the fact: The MPS herald upon the wall was every that remained in what was an blank office.A meeting for MPS' creditors was held upon Dec 12 at PwC's offices, next the company's full verification of accounts presented. The Straits period 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 happening at an fantastic general meeting scheduled earlier that day."We had to lawsuit in the best interests of the company as well as its creditors. We couldn't continue perform issue - and paying salaries - next the company was beautiful much grounded in a welcome where it couldn't in point of fact realize business," he said, upon condition of anonymity. partnered Story

Football: FAS looking to allegation unpaid rights fees from media agency MP & Silva

"It was inevitable that one of our creditors would file for liquidation next 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 artist in the global sports media rights market, holding the publicize 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 unproductive to create payments to several other creditors, including the English Premier League, Italian Serie A, and German Bundesliga.On Dec 1, The period 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) agreement next the Football connection of Malaysia (FAM), also signed in 2015, was been terminated and the issue is now below arbitration.Its Singapore office also faced issues.Sources revealed that MPS' intervention president and chief meting out Seamus O'Brien, who associated without help in January, left the organisation in August.He was followed out the read by Wu Swee Sin, MPS' Asia-Pacific managing director, along next several other management-level staff, neglect what sources song was a skeleton crew of junior staff numbering fewer than 10.The steadfast staff had their hands tied because of the company's authenticated issues and are understood to have conducted little to no issue higher than the last five months.ST understands that steadfast employees had their contracts terminated in mid-November without any guarantees of being adequately paid for the one-month declaration required back the withdrawal of contracts. Staff were asked by liquidators to give in proof of what the company nevertheless owes to them, and have already provided the required documentation.Staff are usually the first creditors paid next a company undergoes liquidation, but that can without help happen after liquidators - in this lawsuit PwC - receive a court order to liquidate.




TURIN, Italy, (Reuters) - Cristiano Ronaldo headed a late equaliser to deny Torino their first win away to neighbours Juventus for 24 years as the two sides drew 1-1 in Serie A yesterday.
Late Ronaldo goal foils Torino - Reuters


Barca stroll to their 26th LaLiga title, Football News & Top
The key to the Red Devils' surge in form has been the caretaker's perceptive man-management skills, said former Manchester United player Dwight Yorke.
Chelsea's players celebrate Willian's 2-1 goal.

Suspended Thierry Henry set to lose Monaco job Jardim, who was sacked himself last October and replaced by Henry, was expected to be unveiled as the manager on Friday after agreeing terms on a two
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Brazil's Roberto Firmino (right) had a goal chalked off late in the first half after the referee awarded a foul against his team.


English Premier League Southampton stay up after thrilling 3-3 draw with Bournemouth. Fresh from scoring the fastest goal in Premier League history against Watford, Irish striker Shane Long again got Southampton off to a flying start with a goal in the eighth minute, but Dan Gosling equalised eight minutes later.
Southampton stay up after thrilling 3-3 draw with Bournemouth



Football: Schar double earns Newcastle crucial 3-0 win over Cardiff NEWCASTLE, England (REUTERS) - Newcastle United moved out of the relegation zone and dropped Cardiff City into it as an unlikely double by Fabian Schar earned them a crucial 3-0 victory at St James' Park on Saturday (Jan 19).
Schar double earns Newcastle crucial 3-0 win over Cardiff
Manchester City's Phil Foden celebrates scoring a goal during the English Premier League match against Tottenham Hotspur at the Etihad Stadium in Manchester on April 20, 2019.


Nigerian singer Davido has simply revealed that ace music producer Kiddominant is on Beyonce's subsequent album. Lyric web site, Genius, claims the mother of three will probably be releasing a brand new album that could be titled 'B7' and could also be launched April 18, 2019.
UNSUNG HERO OF THE FAITH - bernielutchman.com
Mali's defender Molla Wague (left) vies for the ball during the Africa Cup of Nations match against Mauritania in Suez, Egypt, on June 24, 2019.
Porto's Alex Telles (right) celebrates a goal with team mate Moussa Marega.

Mar 17, 2019 · Chelsea's Maurizio Sarri admits top-four worry after damning defeat at Everton Maurizio Sarri accuses his Chelsea players of 'mental block' at Everton - video sign up and get our daily
Everton vs Chelsea: Maurizio Sarri 'worried' by players



Football: Klopp says he is a 'world-record holder' at winning semi-finals, as he laughs off 'unlucky' tag MADRID (AFP) - Jurgen Klopp laughed off suggestions he is an unlucky manager as he looks to halt an unfortunate run of ending up on the losing side in his last six finals as a coach when he leads Liverpool into Saturday's Champions League
'World record holder at winning semi-finals' - Klopp laughs



Four club legends took time to reflect on Sunday's Treble Reunion match against Bayern Munich and praise the work done by the Manchester United Foundation. Gary Neville played the full 90 minutes
Andy Cole exclusive interview: Memories of the treble, the



Juventus deny making an approach for Guardiola Serie A champions Juventus have dismissed reports they are set to make Manchester City manager Pep Guardiola their new head coach.
Football: Juventus deny rumours of Guardiola swoop - CNA

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