The sudden termination of a business arrangement can have a substantial impact on each of the parties involved. Companies in Florida that experience a similar scenario could suffer a variety of potential consequences, such as damages to reputation and loss of financial opportunities. Legacy Fighting Alliance has filed a lawsuit against Anthem Sports and AXS TV after claiming a breach of contract cost the company to suffer significant financial loss.
According to reports, Legacy entered into a business arrangement with AXS TV in which the company agreed to air numerous mixed marital arts competitions throughout 2019. However, Legacy asserts that at some point during the year, AXS TV and Anthem Sports decided to stop broadcasting the promotions. The company asserts that there were nine more events scheduled under the contract when it was removed from the broadcasting schedule.
Legacy asserts that the sudden loss of airtime has caused it to suffer substantial monetary harm. Legacy also says the incident has damaged its reputation and harmed relationships with sponsors and viewers. The company has accused the other parties of breach of contract and is reportedly seeking up to $700,000 in restitution.
Upon encountering a breach of contract, company owners may wish to gain insight on the available options to help seek an acceptable resolution. Since the process can be complex, a person in Florida could find it helpful to seek legal counsel early on for advice in making informed decisions about his or her situation. An attorney can work with a client in forming a strategy to protect his or her legal rights and pursue the most favorable outcome achievable concerning the future of the company.