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PPTV wins EPL TV rights for US$650m
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A CHINESE conglomerate has won the rights to broadcast the English Premier League in the Asian country for three years, it said yesterday, with reports putting the deal’s value at US$650 million.
The contract would represent a huge uplift on the previous contract as Chinese money pours into the game and businesses rush to boost the nation’s footballing ambitions.
“The feedback that the board of the English Premier League gave us is that we have won the bid” to broadcast the EPL from 2019 to 2022, a spokesman for Suning Holdings’s PPTV unit said.
The exclusive media rights cover China’s mainland and its special administrative region of Macau, a Suning spokeswoman said, adding they still have paperwork to sign before making an official announcement.
PPTV is an online streaming platform under the sports arm of the Suning Holdings company, which paid 270 million euros (then US$306 million) in June for a majority stake in Inter Milan.
It also owns Chinese Super League club Jiangsu Suning, which twice broke the Asian transfer record this year to sign Ramires from Chelsea for 28 million euros and Shakhtar Donetsk’s Alex Teixeira for 50 million euros.
The three-year TV rights were worth US$650 million, Bloomberg News reported, marking a 12-fold increase on the current contract.
The announcement by PPTV came soon after the start of a new EPL television rights cycle, which has generated some 8.3 billion pounds (US$10 billion) worldwide through 2019.
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