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LONDON (Alliance News) - The English Premier League said late Tuesday it has signed a GBP5.13 billion deal for the broadcasting rights for its football matches covering the three years from 2016 to 2019, significantly more money than analysts were expecting.
Sky PLC secured five of the seven packages available, equating to 126 live games per season from a total 168 matches, for a cost of GBP1.32 billion per year, whilst rival BT Group PLC secured two packages, or 42 live games a season for a cost of GBP320 million per year.
Sky said the price equates to an 83% increase from the cost of its existing contract, noting that it has won Friday evening games for the first time. The new deal will see Sky broadcast 126 fixtures a season compared to 116 games under its current contract.
"We are looking forward to bringing even more live Premier League football to viewers. Only Sky Sports will have the best match picks and the best slots so our viewers will be able to follow the biggest matches, the key head to heads and every club at least four times. No other broadcaster comes close," said Barney Francis, managing director of Sky.
The new deal results in BT showing 42 games a season, up from its current 38 games. BT has secured a live Saturday evening game each week during the Premier League season, which will allow the company to "build on its current Saturday programming and appeal to an even larger audience, having secured the prime evening TV viewing slot," it said in a statement.
BT noted that the new Premier League games from 2016 to 2017 will be added to its 350 exclusive UEFA Champions League matches that it will begin broadcasting in the summer.
"These new rights will enhance our existing schedule of football, rugby and other international sport, including all the live footballing action from the UEFA Champions and Europa Leagues starting this summer," said John Petter, consumer chief executive of BT.
BT said it will pay a GBP29 million deposit in February, followed by six instalments starting in July 2016 and continuing in the months of December and July until the end of 2018.
The BBC already has paid GBP204 million to renew its rights for its Match of the Day highlights package for three more years.
The costs of the coveted football broadcast rights has rocketed in recent years, going from GBP1.77 billion for the 2011 to 2013 season to GBP3 billion for the 2014 to 2016 season, partly as a result of the growing competition between Sky and BT.
Sky has historically held the dominant position in Premier League rights, but has faced new competition from BT with the launch of its BT Sport service. At the last auction, BT upped the ante, winning around 25% of the live Premier League rights, and also snapping up all the live rights to the Champions League football from next season.
Experts had expected the cost of the rights package to rise again to over GBP4 billion this year, which turned to be a 20% underestimate.
Eurosport owners Discovery Communications and Qatar-based BeIn Sports were thought to have been exploring a bid for some of the rights, but appear to have either not made bids or not been successful with their bids.
The results of the auction were announced after the market close Tuesday. BT shares had closed up 0.4% to 438.19 pence per share, whilst Sky shares ended up 0.2% to 954.00p.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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