LigaPro loses arbitration in the Guayaquil Chamber of Commerce and must return money to former sponsor

The Ecuadorian Professional Soccer League (LigaPro) breached a sponsorship contract with Banco Pichincha and, consequently, must return money to the bank and pay a fineas determined by the Arbitration Center of the Guayaquil Chamber of Commerce.

In a brief statement dated this Wednesday, the financial institution states: “The Arbitration Center of the Guayaquil Chamber of Commerce released an arbitration award favorable to Banco Pichincha regarding the process initiated for breach of the sponsorship contract by the Professional Football League (LigaPro). The award confirms that Banco Pichincha’s decision to terminate the sponsorship of LigaPro was in accordance with the terms of the contract”.

And the document adds: “The resolution by the Arbitration Center determines that LigaPro returns the value paid in excess during the year 2020 and, in addition, applies a fine for breach of contract. This decision is final.”.

In February 2019, LigaPro and the bank signed a three-year sponsorship contract for the national football championships organized by the institution founded in 2018. “It is not easy to find allies such as Banco Pichincha,” Miguel Ángel said at the time. Loor, president of the League, on the main sponsor.

Nineteen months later, in September 2020, Banco Pichincha unilaterally terminated the contractual relationship, according to LigaPro, which claimed to have “fulfilled all the obligations” agreed upon. The organization of clubs, in addition, pointed out to the bank that it showed “disinterest in maintaining the agreement” and had “no substantive reason”.

‘Six million dollars’

Francisco Egas, president of the Ecuadorian Football Federation and knowledgeable about the case of LigaPro and Banco Pichincha, in dialogue this Wednesday with the radio Networksaid on the subject: “Yesterday, due to negligent management with one of its sponsors, LigaPro lost an award in the same Chamber of Commerce with which LigaPro works, and will have to pay six million dollars of the money of the clubs”.

Egas: LigaPro is deficient; We made a mistake in entrusting the project to Miguel Ángel Loor

The head of Ecuafútbol, ​​former executive director of the Catholic University of Quito, has also criticized the management of the president of the League: “I regret having trusted Loor to be president, because LigaPro was well conceived, but we made a mistake in the person to whom we entrusted the project”. (D)