As part of a geographical streamlining of its business, the German media giant has decided to shut down its London operations, effective from 30 September of this year, following the integration of the Prisma Sports & Media and CWL arms into the one single unit - KirchSport.
Kirch Sport stated that the closure of its London office is part of a long-term business plan which provides for its headquarters being in Zug in Switzerland.
As a consequence of the closure, Richard Dorfman -senior vice president of Kirch Sport and the man who has handled much of the World Cup rights sales during the past four years - will leave the company after electing not to relocate to Switzerland.
Now operating as a 'ringfenced arm' away from its parent Kirch Media, the broadcast rights held within Kirch Sport include the 2002 and 2006 soccer World Cups, the IHF World Ice Hockey Championship, the European Handball Championships and various national and domestic football clubs and federations.
The ring-fencing of Kirch Sport away from Kirch Media, which is in the process of analysing bids for its remaining array of assets, was aimed at protecting the valuable sports rights from the threat of insolvency that has gripped many of the other subsidaries of the debt-laden Kirch Group.
For all the inside details and various bidders in the assets sale of the insolvent Kirch Media, see the features section of today's sportbusiness.com
Dorfman goes as the downsizing of the financially troubled Kirch Group continues with the closure of its Kirch Sport office in London.
