IC Markets Sues Inter Milan Football Club
Australian broker IC Markets is suing legendary Italian football club Inter over a failed multi-million dollar deal. Now the company is trying to return 3.5 million euros, which it has already transferred to the club's account.
IC Markets reports that the club have terminated the contract, which was supposed to be valid until the end of the 2020-2021 season. The broker became the first sponsor of the legendary Milan team, counted on advertising and interaction with Inter fans. Note that the deal was canceled even though the football club has already confirmed it in its financial statements.
The main reason for the refusal of sponsorship is the failure of the broker to fulfill the agreements. IC Markets denies the accusations of the football club and is trying to recover the funds spent. In addition, the company intends to return not only its money, but also interest in the form of compensation. It is known that the first hearing in the case will take place on April 14, 2021.
According to insiders, there is another reason why the club broke the agreement with the broker. IC Markets has tried to renegotiate terms as the value of the deal has declined due to the coronavirus pandemic.
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