China Sports Media and CSL extend contract

Media reports said on Jan 25 that the contract signed by China Sports Media and the Chinese Football Association Super League Co., Ltd (CSL) would be amended. 

The CSM had signed the broadcasting rights contract for 5 CSL seasons (2016-2020) for RMB 8 billion in October 2015. However, the CSM indicated in June 2017 that with the new policies introduced such as the U23 reforms and the adjustment fee regulations of local and foreign players, the operations and commercial value of CSL would be greatly influenced. Therefore, the CSM needed to re-negotiate with CSL.

After two weeks of re-negotiations, the CSL held an interim shareholders meeting on Jan 19, 2018, where the modification plans for the contract by CSM was passed. According to the plan, the contract would be extended to the year 2025 and the total fee which CSM should pay would become RMB11 billion. 

As of now, the CSL has reportedly sent a request letter to three of CSM’s competitors. If none of them can come up with a plan equal to or better than the CSM offer, the modifications to the existing contract will be confirmed. 

Source: Eastday

Proofread by Raymond Fitzpatrick