Friday, 18 Nov 2016 17:24 | By Mei Zhu
Suning Sports have acquired exclusive media rights (live plus on-demand) for the 2019-2022 seasons of the English Premier League on the Chinese mainland and Macau with 721million USD. This is another big coup for Suning Sports after the acquisition of wealthy Inter Milan.
According to the current exchange rate, the 3-year contract is equivalent to about 4.95 billion yuan, with an average annual fee of 1.65 billion yuan. This is very close to the annual rights fee of the Chinese Super League (CSL). Last year, the rights to the CSL were sold at 8 billion for five years (1.6 billion annually). Taking into account the audience and the attention that the Premier League attracts, the price is quite reasonable.
It is reported that, as well as Suning, Super Sports, Tencent and LeTV sports, many other Chinese sports companies participated in the bidding. Suning won the bid after the second round. They were the highest bidder among China’s Sports companies.
Suning has announced that a sixth of its business is now sports-related, the remainder comprising electricity providers, real estate, investment, financial control and entertainment.
With Suning winning the bid, it means that Super Sports have lost the rights to the Premier League on the Chinese mainland and Macau after holding them for 9 years.
Proofread by Sean O Diobhilin