U.S. global giant Paramount has offered Australian cricket around $1.5 billion to secure the rights to Test matches and the Big Bash League for the next seven years, but the sporting body has said that current partner Fox We are discussing alternative arrangements with Teru and Seven.
Three separate industry sources, who spoke on condition of anonymity, said Paramount is offering Cricket Australia about $210 million a year, potentially worth $1.5 billion over seven years (the deal could be worth $1.5 billion). desired period).
The companies are in the process of finalizing a long-term deal, while talks continue with broadcasters Seven and Foxtel.
Seven and Foxtel declined to comment. CA also declined to comment. Nine was also negotiating a rights deal, but it’s nowhere near the amount CA wants.
A Network Ten spokesperson said the network has ample financial resources and access to new technology that could improve sports broadcasting. “We are committed to providing a premium product with greater visibility, consistency and flexibility across all forms of cricket. , bringing the sport to new and engaged audiences.”
“Network 10 and Paramount+ want to restore cricket to its former glory, ignite the relationship between Australians and this great sport, and provide TV viewers and fans with the quality coverage they deserve. “
The contract with Cricket Australia does not include production costs of approximately $40 million per year. While it may be expensive, securing the rights would solidify Paramount’s position as a sports broadcaster in the Australian market.Network Ten is a global entertainment company that operates locally. One company has spent the past two years trying to secure the rights to a major sports code. Purchasing rights to sports is expensive, but typically a big driver of viewership and subscriptions. Paramount announced in May of last year that it had signed a five-year, $200 million deal for all A-League and W-League games, and then signed a deal in June to broadcast matches between the Matildas and the soccer team.
In recent months, Paramount has offered $6 billion over 10 years for AFL rights. The offer significantly boosted the final offer to the AFL by incumbents Seven and Foxtel. Paramount and Cricket Australia have been building long-term deals over the past few weeks. Seven and Foxtel do not need to do this as they can amend existing contracts. Paramount hopes to get the deal sorted out before the turn of the year to avoid the risk of becoming a stalker horse.
Broadcast rights negotiations are not complete without high-level executive meetings and strategic appearances. Foxtel boss Patrick Delany and one of his predecessors, his Richard Freudenstein (who happens to be leading CA’s broadcast rights negotiations), entered into a deal that was publicly positioned as a sure thing for Paramount. Nonetheless, we had lunch last week.