Sydney (AFP) – Australian football’s biggest club has signed a new $25 million contract with one of the world’s biggest commercial companies, according to financial documents.
The club has agreed to pay $25.5 million over four years to commercial outfit Sportsnet, and the agreement is subject to regulatory approval, the Australian Securities and Investments Commission (ASIC) said on Tuesday.
It is not known what the commercial arrangement is for, but the deal could potentially include television and sponsorship deals with clubs, and commercial partnerships with other commercial entities.
It was not immediately clear what Sportsnet will pay Sportsnet for the rights to broadcast the Premier League and the NRL, and which club the deal would be for.
“Sportsnet’s acquisition of the Premier and National Premier League rights will enable the company to broadcast Premier League matches in more markets and further develop the sport’s broadcast network,” Sportsnet said in a statement.
“The Premier League, the NRL and all the clubs are valued at $12 billion each, which means they have a market capitalisation of $20 billion.”
Our acquisition of these rights will further improve the sports and entertainment experiences for fans and viewers around the world, with the Premier league and the National Premier league also attracting significant audiences in other markets.
“The Premier and Premier League are both currently owned by China-based state-owned telecommunications giant Huawei Technologies, which was founded in 2006 and is the worlds largest telecommunications company.
The Premier league is the most-watched English football league in the world.
The National Premier football league is a rival to the PremierLeague in the UK, and is owned by the Chinese state-run telecommunications company Huawei.
The deal follows the signing in November of a $50 million agreement with Chinese internet giant Tencent Holdings for rights to stream Premier League games, including the Premier conference finals, for the second consecutive season.
The agreement includes a $5 million prize fund for a Premier League team to be funded by a prize pool established in 2016.
The NRL was established in 2000 by the Australian Rugby League and is a joint venture of the NRL clubs and the Football Association of Australia.