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Wednesday, February 28, 2024

English Premier League overseas TV rights revenue surpasses domestic deals, hits £5.3bn

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The English Premier League (EPL)income from overseas TV rights eclipses domestic deals for the first time. This means that from next season, with new deals recently agreed in India and Asia taking the overall package estimated to hit £10.4billion.

Premier League clubs were informed of the growth in overseas deals at their monthly shareholder’s meeting, with foreign TV rights now worth £5.3bn for the 2022 to 2025 seasons compared to the £5.1bn paid by Sky Sports, BT Sport and Amazon Prime over the same period. The Premier League’s international rights are valued at £4.1bn in the current three-year cycle.

Read Also: Manchester City get Premier League title boost as Cancelo signs new deal

Other deals struck for thePremier League new cycle to have contributed significantly to the increased international rights pot include the agreements in the Nordics with Nent, in Serbia with Telekom Srbija, in Mexico and Central America with ViacomCBS and in South America with Disney.

International revenue overtaking domestic comes after the Premier League chose to roll over its current set of domestic rights due to uncertainty in the marketplace caused by the Covid-19 pandemic.

In August, the UK Government approved the Premier League’s rolling over of its current broadcast deals with Sky Sports, BT Sport, Amazon Prime and BBC Sport for another three years. In April, and as reported by SportBusiness, it emerged that the Premier League would renew its domestic media rights deals from 2022-23 to 2024-25 on the same terms as its existing agreements.

The UK Government later confirmed that it would be making an Exclusion Order under the Competition Act 1998, enabling agreements to roll over without the need for a standard tender process.

“International deals for 2022-25 will be worth £5.3 billion, up 30 per cent, with the domestic rights bringing in £5.1 billion and commercial contracts taking the total to £10.5 billion. The figures, seen by analysts as being remarkable in the face of a general global rights recession brought on by the Covid-19 pandemic, were outlined to club chairmen and chief executives at a shareholders meeting in London.” According to The Times.

As a result of the increase, next season’s Premier League winners will receive £176m in prize money with the bottom club getting £106m, a significant rise from the £153m and £96m respectively that will be doled out to those clubs this season. The club relegated from the League after finishing bottom of the table is still expected to earn £106m, a rise of £10m from the current cycle.

The growth in TV revenue cements the Premier League’s position as the richest football competition in the world, although its income is below that of the NFL, whose domestic TV deal is worth £10bn-a-year.

With more money coming into the Premier League, and TV revenue alone being able to cover the transfer spending of the top club’s in Europe without even taking into account the other numerous revenue streams that exist through sponsorship, corporate means, and other sources, Premier League clubs are on the verge of speedy recovery from Covid-19 pandemic.

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