Premier League to get $213m in failed PPTV media rights deal, while new betting bills are filed in Oklahoma and Alabama. Find out more with STATSCORE’s Review!
- Premier League awarded $213m in failed PPTV media rights deal
- KPMG’s new study details impact of Covid on European football
- New sports betting bills filed in Oklahoma and Alabama
- NFL finished regular season with growing viewership
- MLB lockout – owners and players resume talks
Premier League awarded $213m in failed PPTV media rights deal
Chinese broadcaster PPTV was ordered by The High Court in London to pay the English Premier League £156m ($213m), plus interest and costs.
The league terminated the agreement in 2021 after PPTV failed to pay two instalments of the rights fees owed. The broadcaster, which belongs to the debt-stricken Chinese conglomerate Suning Holdings Group, attributed the missing payments to pandemic-related schedule changes.
“In many commercial contracts events may transpire other than as anticipated by one, or even both, contracting parties,” Judge Peter Fraser said in a ruling published on Tuesday. “That does not mean that the court will rewrite the parties’ bargain and impose different terms upon them to suit those later events. That is not the function of the law of contract.” Read more
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KPMG’s new study details impact of Covid on European football
Matchday revenues were wiped out almost completely for eight European football champions, according to the 6th edition of KPMG Football Benchmark’s “The European Champions Report”.
The report focuses on eight clubs that won championships of their leagues – Bayern München, Manchester City, Atlético de Madrid, AFC Ajax, FC Internazionale, Sporting CP, LOSC Lille, and Beşiktaş JK.
With total revenues of most clubs still below their pre-pandemic levels in an industry characterized by a predominantly rigid cost structure, most champions recorded massive losses for the financial year which ended in May/June 2021. While there were notable exceptions, the most common trend seen was that operating revenues – hit hard by a nearly complete loss of matchday income, but mitigated by stable or increasing broadcasting and commercial revenues, at least when compared with the previous football season – could not make up for generally high staff costs and decreasing player trading income, reads the report. Read more
New sports betting bills filed in Oklahoma and Alabama
Oklahoma State Rep. Ken Luttrell filed a bill seeking to bring back to the table the possibility of legal sports wagering at the state’s tribal casinos.
“Illegal sports betting occurs throughout Oklahoma, and figures I obtained from the Oklahoma State Bureau of Investigation show 11 offences recently with tens of thousands of dollars seized,” Ken Luttrell said. “This reflects only a fraction of what actually occurs in our state.” The lawmaker estimates that the legalization of betting could create 3,000 jobs and add $240 million to the state’s annual revenues.
Meanwhile, Alabama is another US state that is seeing new efforts to legalize sports betting. The new bill sponsored by Rep. Ralph Howard would establish a state lottery, which would permit sports wagering. Read more
NFL finished regular season with growing viewership
The league’s average 2021 regular-season TV ratings jumped 10 percent from 15.6 million in 2020 to 17.1 million.
After an unstable 2020 campaign that saw a TV ratings decline, the NFL is roaring back. This year, the 272 regular-season games attracted the highest average number of viewers since 2015.
ESPN’s Monday Night Football witnessed the biggest boost as its 19-game package was up 16% over last year, averaging 14.18 million. Read more
MLB lockout – owners and players resume talks
Major League Baseball and MLB Players Association have undertaken substantive negotiations for the first time since the lockout was implemented on December 2.
The talks have included new proposals on core economics and competitive issues, according to media reports. The players argue that team owners should invest more revenue in salaries, while the owners believe the players already have a beneficial deal because it is unique among the four major US team sports in lacking a salary cap. Read more
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