Manchester United take $ 11million lawsuit against MoPlay guarantors

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The giants of English football are seeking damages from Roderick Aycox’s Select Management Resources.

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English football giants Manchester United have filed a civil lawsuit demanding more than US $ 11 million from the guarantors of former official betting partner MoPlay.

The Premier League club filed a September 20 lawsuit in federal court, a fact first reported by the Atlanta Business Chronicle, against Georgia-based Select Management Resources and its founder Roderick Aycox.

Aycox’s company is a well-known payday loan company in the United States, with approximately 660 title lending stores in 21 states, including LoanMax Title Loans, according to Argus Leader of South Dakota. Aycox is also listed as one of the major funders in the payday and auto securities lending industry which has made a collective donation of $ 1.3 million to Donald Trump’s nomination.

The complaint concerns Manchester United’s global sponsorship deal with a company called Addison Global, an agreement first signed on May 14, 2018 and officially announced in August of that year.

According to its website, Addison is a Gibraltar-based company and is the originator of the MoPlay betting app, with this platform that the brand used as the official betting partner of United, as well as the English high club. Watford flight, the two agreements having now been canceled. . The MoPlay platform is still active and listed as Hertha Berlin’s current partner in the German Football Bundesliga, with a deal worth € 1,000,000 (US $ 1.1 million) per year.

According to the court record, the deal with United was worth £ 12,128,692 (US $ 15,152,617) and included the rights for Addison to promote its products and brands on the club’s physical and digital assets, as well as to other benefits for sponsors. The deal also included an interest clause on missed payments.

Other documents show that Select Management and Aycox guaranteed Addison Global’s payments under the deal.

According to the file, United allege that Addison Global defaulted on £ 981,000 (US $ 1.2 million) and £ 1,010,430 (US $ 1.25 million) on February 28 and 31. May 2019, respectively, two installments of a 12-part plan spread over three years. The remaining balance of the partnership was £ 9,185,692 (US $ 11,475,868), plus an interest charge of 8.75% thereon.

United claims that the defendants are also responsible for the costs, which include attorney fees.

United recently reported record revenue of £ 627.1million (US $ 780million) for the year through July 2019. However, Executive Vice President Ed Woodward predicted a slowdown in the next year after missing the qualification for European football’s elite club competition, the UEFA Champions League. The club also announced ten new or renewed global sponsorship agreements during this period, bringing its annual sponsorship revenue to £ 173million (US $ 216.2million).

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