The English Premier League has announced, according to the DailyMail, that it has terminated the Chinese market’s TV rights contract and that, for now, there will be no broadcast of matches in that area.
The owner of China’s rights was Suning, which is also the owner of Milan’s Inter and agreed to pay 630 million euros for the period from 2019 to 2022.
Suning was supposed to pay a 180m-euro installment in March but was late and today the league announced that the deal had been terminated.
The Daily Mail writes this would have tremendous implications for the league’s finances, but also for clubs who earn between 100 and 150 million pounds in TV rights a year. The deal with the Chinese was the largest outside the UK, and immediately canceled the possibility of extending cooperation until 2025.
The cancellation of the agreement was followed by a cooling of British Government-China relations. The Chinese refused to display the matches in July because the British government barred Huawei from establishing a 5 G network in that country, after which the Chinese implemented new security measures against Hong Kong which caused additional tensions.
Currently, the Premiership receives € 10 billion a year from TV rights, of which €4.8 billion goes to rights outside the UK. But the Chinese market’s loss means even more than the TV rights themselves since many Chinese and Asian corporations are sponsoring clubs precisely because of the Asian market.