The Communication Directorate of the Professional Soccer League of Ecuador said on Wednesday afternoon that this entity expects to be notified in writing in order to proceed “to legally review the situation” that links it to an arbitration procedure initiated by Banco Pichincha, an institution that alleges breach of the sponsorship contract by the Professional League.
“Given the information published in some media, related to the arbitration procedure initiated by Banco Pichincha CA against the Professional Soccer League of Ecuador, we clarify that, at the time we are notified in writing, we will proceed to legally review the situation and defend ourselves with the pertinent actions authorized by the Law, both for our interests and for those of the clubs affiliated with this organization, ”says a statement released around 7:00 p.m. yesterday.
Also on Wednesday, by official letter, the financial institution indicated: “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 League Football (LigaPro). The award confirms that Banco Pichincha’s decision to terminate the sponsorship of LigaPro was in accordance with the terms of the contract.
“The resolution by the Arbitration Center determines that LigaPro return the value paid in excess during the year 2020 and, in addition, applies a fine for breach of contract. This decision is of last resort”, it is added.
The amount would amount to $ 6,000,000, as revealed to the Quito radio Network Francisco Egas, president of the Ecuadorian Football Federation (FEF).
In February 2019, the Professional League and the bank signed a three-year sponsorship contract for the national football championships (series A and B) organized by the institution founded in 2018.
Nineteen months later, in September 2020, Banco Pichincha unilaterally terminated the contractual relationship, according to the Professional League, 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”. (D)
Source: Eluniverso
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