Friday crunch for NTL over £5m football deal
Heavily indebted cable company NTL must be quaking in its boots. After the white-hot anger the Football League has displayed against collapsed TV company ITV Digital for not honouring its TV rights contract, NTL will be sure to pay up this week for an internet rights contract.
NTL needs to pay £5m on Friday as part of a £65m deal for internet rights that was signed in June 2000. However, it is in US bankruptcy proceedings after crumbling under the weight of £17bn in debt. Some industry insiders have expressed concerns that NTL won't be able to pay up on the football contract, which could raise fans' wrath.
The deal was to set up internet "portals" for the Football League's 72 clubs. ITV Digital paid £315m for the rights to screen matches, but the Football League is suing for £178m in unpaid fees after the TV service's collapse. Football supporters have been picketing the services' owners, Carlton and Granada, in protest.
A League spokesmanconfirmed that the payment is due on Friday but said: "We have no reason to believe they won't pay." A spokesperson for NTL said that the company never comments on impending financial transactions.
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