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Sports

Accor to withold payments to PSG if season is not complete.

Ligue 1 finds itself in a bind with television companies suspending their payments until competition resume and looks as though kit sponsors are following in their steps. Accor, Paris Saint-Germain’s principal sponsor, won’t make their next payment.

In a recent interview with BFMTV (via Get French Football), CEO of the Accor group, Sébastien Bazin, stated that the hotel group would withhold their July 1st payment until the resumption of PSG’s matches. With no brand exposure during the games, it comes as no surprise that they will wait to make their second payment of the year.

Sponsors cannot give money if there is no visibility … On July 1, the season would have to start again. Otherwise, it will probably not be paid,” Bazin said. “For me, this season must resume.”

Furthermore, with plenty of businesses hurting due to COVID-19, Accor is no exception. In the United States, hotels are facing the scary reality of seeing half of them go out of business. With France being the third-hardest hit country in Europe when it comes to COVID-19, according to Bloomberg, it comes as no shock that Accor is looking out for its financial self.

Accor pays two installments to PSG as a principal sponsor. The first installment comes at the start of the season on July 1, while the second payment is made on January 1. Also, when it comes to the money, Accor pays two installments between €65 million and €80 million per year, according to Culture PSG.

As UEFA weighs their options for when the domestic leagues and European tournaments resume, Bazin and Accor remain optimistic. The group believes that play will continue, but offer no inside information so that might be pure speculation on their part.

Samuel Louis

Samuel Louis

Samuel Louis is a young Haitian student that loves to write and learn. He’s passionate about people and culture and finds comfort in knowledge. As a writer for Haitian Times, he looks forward to opening his horizons about journalism, while doing what he loves.
Samuel Louis
Apr. 04, 2020

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