Thursday, June 17, 2021

Premier League nets COVID-era ´stability´ with new TV deals

SoccerNews in General Soccer News 13 May 2021

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The Premier League has agreed to extend its big-money domestic television deals until 2024-25 in a move it says will provide “security and continuity” in English football.

League chiefs invoked “exceptional and compelling reasons” based on the COVID-19 impact to gain government permission to renew its existing rights deals without the need for a tender process.

The three-year renewal is thought to be worth almost £5billion, the same value as the current contract for the identical duration that runs through to the end of the 2021-22 campaign.

In a statement, the league said: “The UK renewals for the next broadcast cycle – from seasons 2022-2023 to 2024/2025 – will be concluded at the same overall value as the current arrangements between the Premier League and its broadcast partners.

“As part of the Premier League’s developing strategic plan, the renewals will provide financial certainty to clubs throughout professional football as a result of maintaining current levels of support and enables the league to commit to increased funding. This will give security and continuity throughout the pyramid until at least 2025.”

Once rubber-stamped, the broadcast deals will have an impact beyond adding to the wealth of the Premier League elite. The renewals remove uncertainty that could have arisen in the case of an auction for the rights, eliminating the possibility of a drastic cut in the income from the TV deals.

As part of the agreement to secure the renewals, the Premier League has committed to providing an extra £100million in funding to lower-league and non-league clubs, women’s and girls’ football, and good causes including the Football Foundation charity.

The Premier League said this investment would “extend support to areas of the football community particularly vulnerable to the impacts of COVID-19”.

Premier League chief executive Richard Masters welcomed the Sky Sports, BT Sport, Amazon Prime Video and BBC Sport deals.

Masters said: “We are hugely appreciative of the government agreeing in principle to allow this arrangement and for their continued support for the Premier League and the English game. COVID-19 has had a significant impact on football, and renewals with our UK broadcast partners will reduce uncertainty, generate stability and promote confidence within the football pyramid.

“We know that, once concluded, this will have a positive impact on the wider industry, jobs and tax revenues and will enable us to maintain and increase our existing solidarity and community financial commitments to the football pyramid for the next four years, even though we are yet to understand the full impact of the pandemic.

“It comes at an important time and will enable us to plan ahead with increased certainty against a more stable economic backdrop.”

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