European football's governing body UEFA are taking steps to recover £10m owed by troubled sports marketing firm ISL Worldwide.
ISL, and its parent firm International Sports Media and Marketing Group, are under threat of bankruptcy following a ruling in a Swiss court.
Now ISL's chances of securing the contract to handle the marketing and sponsorship rights for the 2004 European Championships are up in the air.
UEFA communications director Mike Lee said: "They owe us money and we would like that back, thank you very much. We are taking steps to recover the debt, and our lawyers are involved."
The money owed is from additional revenues ISL collected from the Euro 2000 championships.