SFX, MasterCard lock horns as relationship sours
The two companies, supposedly in a "multi-year global partnership" since August 2014, have fallen out, with each accusing the other of breaching their original agreement
News By | 18 October 2016
Following the breakdown of its relationship with Viagogo, SFX Entertainment has fallen out with another high-profile brand partner – MasterCard – as it continues its attempts to have its post-bankruptcy reorganisation plan approved by creditors and the courts.
The two companies signed a “multi-year global partnership” in August 2014, with MasterCard becoming a technology partner and “financial services partner” of SFX’s festivals and the EDM promoter “leverag[ing] MasterCard’s innovative technologies for its digital and physical platforms, including ticketing, retail, live events and social networking”.
Now, however, the former partners are at each others’ throats, with each party accusing the other of not holding up their end of the agreement.
New documents filed in the bankruptcy court of Delaware show MasterCard’s lawyer, Joe Khanna, making a claim against…
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