Premier League terminates China's €587m TV deal in blow to clubs' finances

Premier League terminates China's €587m TV deal in blow to clubs' finances

The U.K.'s Premier League terminated a 650 million pound ($861.6 million) agreement for the broadcast of English soccer matches in China amid growing political tension between the two countries.

In November 2016, the Premier League signed its biggest TV deal outside the United Kingdom when Suning Holdings paid £564m (€633) to broadcast matches for three years, from 2019-2022, via its digital channel PPTV.

In the meeting, there was also a commitment to complete next season should a second wave of coronavirus hit England, although a final decision is yet to be made.

The termination of the contract just one season in comes in the wake of British reports from August that the China side had failed to pay a $212 million installment due in March.

Fulham's Joe Bryan celebrates with the EPL promotion trophy after his brace downed Brentford. "The Premier League will not be commenting further on the matter at this stage".

"COVID-19 has brought many challenges, and it's especially obvious during broadcasting rights negotiations", the statement said.

The Premier League announced last month that an additional 20 matches would be broadcast next season, taking the number of live games to 220 out of the 380 to be played, but stopped short of adopting the policy introduced by the Football League of streaming every game on club websites.

"Despite PP paying more than the copyright cycle fee to Premier League in advance, as agreed, PP will terminate its cooperation with the Premier League."

After the pandemic led sports organizers around the world to cancel matches and start their new seasons in empty stadiums, some broadcasters have negotiated discounts for carriage rights.

Liverpool's closest domestic rivals in the last two seasons have been Manchester City, who are the favourites to land Messi, which is why the defender isn't keen on the prospect.

Serie A giants Inter Milan are also under the control of the retail giant.

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