Media giant Nine Entertainment could pay NRL up to $ 600 million over five years under a contract to bring the value of the broadcast rights of the popular rugby league tournament back to pre-COVID-19 levels.
Television, publishing and digital media companies and NRL have been discussing a long-standing extension of their broadcast contract for months, and although no formal contract has been agreed or signed, sources on both sides of the negotiations are currently Is an advanced stage and may be completed in the next two weeks.
Sources who spoke anonymously because the discussion was secret said last week that Nine offered to pay the NRL more than $ 115 million a year for five years of free broadcast rights. If Nine’s proposal is accepted, it’s the most lucrative free network contract in NRL history, providing enough funding to accommodate the 17th team in the league.
Both Nine and NRL declined to comment.Nine is the owner Sydney Morning Herald When Age.
Nine has been detained for several months in important negotiations on free broadcast rights for NRL games, and two weeks ago he met with Australian Rugby League Commission chairman Peter Vandis and NRL boss Andrew Abd. Presented the plan. V’landys told 16 NRL clubs that the meeting was positive.
When the negotiations began, the NRL revealed that a five-year contract would require a minimum of $ 115 million per year. This will match the free broadcast rights with a pay-TV contract with Foxtel that will expire in 2027.
Nine has a long-standing relationship with the NRL, The relationship was in the rocks in August When V’landys told Nine executives, he was disappointed with the sports promotion by the company, which owns a free broadcast network and publishing assets, as well as radio stations such as Sydney’s 2GB and streaming service Stan. bottom.
Broadcast rights on the NRL are the most profitable sports facility to sell this year. Sport is usually a deficit event for television stations, but it can be used to promote other major shows on the channel and increase viewership and advertising revenue.
Rugby league rights are also an important test for Nine CEO Mike Sneesby, who started his role in March.Nine has been regarded as a strong favorite for renewing NRL contracts, but rival network Seven has also Express interest in rights (Seven has a close relationship with V’landys through a broadcast contract with Racing NSW, which he leads as CEO).
Nine approaches $ 600 million NRL TV rights deal
Source link Nine approaches $ 600 million NRL TV rights deal