BT Group (LON:BT.A) and Sky (LON:SKY) will pay less for Premier League matches, having snapped up the rights to the majority of live games for £4.46 billion. The news came after the two rivals inked a deal last year to sell their channels to each other’s platforms.
BT’s share price has advanced in London this morning, having added 1.17 percent to 228.50p as of 08:57 GMT, and outperforming the broader UK market, with the benchmark FTSE 100 index currently standing 0.67 percent higher at 7,215.81 points. Sky’s share price meanwhile is 3.11 percent up at 1,094.00p.
BT and Sky to pay less
Premier League announced in a statement yesterday that five of the seven live packages for seasons 2019/20 - 2021/22 had been awarded to BT and Sky, with the value realised at this stage of the process standing at £4.464 billion. The Times noted in its coverage of the news that the price paid for the five packages totalling 160 matches is just under £700 million short of the £5.136 billion total achieved three years ago for 168 games. Even the most optimistic forecast of income from the remaining two packages is therefore expected to still leave the Premier League’s overall total down on or similar to the existing deal.
Companies comment on deal
BT announced in a statement that its rights will cost £295 million per season for 32 games and that the company continued to engage with the Premier League regarding the remaining rights.
“The Premier League is undoubtedly the most competitive and exciting domestic league in the world, so we're delighted that our customers will be able to continue enjoying Saturday games on BT Sport,” Marc Allera, chief executive of BT's Consumer division, commented in the statement.
Sky meanwhile will remain the dominant broadcaster, having secured four packs of rights, for £1.193 billion per year.