French Sports Code
In forceSports federations, as well as the organisers of sports events mentioned in article L. 331-5, own the exploitation rights to the sports events or competitions that they organise.
Any sports federation may assign to sports companies, free of charge, the ownership of all or part of the audiovisual exploitation rights to sports competitions or events organised each sports season by the professional league it has created, provided that these companies take part in these sports competitions or events. The assignment then benefits each of these companies.
The professional league may, for the marketing and management of the exploitation rights to the sporting events or competitions that it organises, create a commercial company subject to the French Commercial Code, subject to the agreement of the delegating sports federation that created the professional league.
The scope of the marketing and management, by the commercial company, of the rights to exploit the sporting events or competitions organised by the professional league may not exceed that granted to the professional league by the delegating sports federation concerned, under the conditions determined by the agreement specifying the relationship between the federation and the professional league referred to in Article L. 131-14 of this Code.
The right to agree to the organisation of bets on the sporting events or competitions organised by the professional league, as provided for in Article L. 333-1-1, is excluded from the scope of the exploitation rights that may be entrusted to the trading company.
When they are entrusted to the trading company set up by the professional league, the exploitation rights for sporting events or competitions organised by the professional league are marketed by this company under the conditions and within the limits specified by decree of the Conseil d'Etat, which allow, in particular, compliance with competition rules.
The trading company set up by the professional league may not delegate, transfer or assign all or part of the activities entrusted to it.
The trading company's articles of association and any amendments thereto are approved by the general meeting of the delegating sports federation concerned and by the Minister responsible for sport. The articles of association of the commercial company specify in particular the decisions that cannot be taken without the agreement of the members or minority shareholders as well as the procedures for guaranteeing compliance with the principles mentioned in article L. 333-3. The decisions of the trading company may not be contrary to the delegation referred to in article L. 131-14 nor infringe the object of the professional league or the powers sub-delegated to it by the federation pursuant to the same article L. 131-14.
The articles of association of the trading company shall provide for the presence of a representative of the delegating sports federation on the governing bodies of the trading company, in an advisory capacity.
The professional league may not hold less than 80% of the capital and voting rights of the trading company.
A decree of the Conseil d'Etat shall determine the categories of natural persons and legal entities, governed by French or foreign law, who may not hold an interest in the capital or voting rights of the commercial company.
