MUMBAI: Sony Pictures Networks India (SPN) will remain host broadcaster for UEFA club competitions for a further three seasons as the network has renewed its long-running media rights contract with Europe’s governing body till 2023-24.
While the official announcement is still awaited, the network has been running UEFA Champions League advertising promos on its sports channels alongside its coverage of the ongoing Tokyo 2020 Olympics, for which it is the host broadcaster.
As Sports Mint has noted in its report on the renewal, SPN’s contract with UEFA for the new rights cycle has been negotiated at a lower price “due to the lack of interest from other networks”.
It is this same “lack of interest” (read that as only SPN put in a bid) that had earlier forced UEFA to extend the first-round bid deadline, which was originally set at March 16, 10 am (CET) to April 6, 10 am (CET).
While SportzPower does not yet have details of the price at which SPN has negotiated its rights renewal, what it does know is that it is significantly lower than the $26 million that was its payout for the previous 2018-21 cycle.
How much lower? The $10-13 million ball park is what industry sources have told this website.
Point to note: ALL International football rights in the Indian market are on the downward trajectory.
For the record, the UEFA Rights package for the Indian subcontinent includes the rights to top-tier UEFA Champions League (and UEFA Super Cup) and the Europa League and Europa Conference League with rights to the second-tier and new third-tier competition packaged together. These competitions will continue to feature some of Europe’s finest across all competitions. Sony’s mid-week schedule will also be bolstered by the new third tier Conference League, Sports Mint further reports.
(Updated with a correction in the value of the previous media rights deal)
