CHINESE TV TURMOIL COULD COST TOP CLUBS MILLIONS

THE Premier League are locked in a legal dispute with their Chinese broadcast partners that could cost clubs hundreds of millions in lost income. Sportsmail can reveal that rights holders Suning Holdings have withheld a payment of £160million that was due in March, with the Premier League retaliating by rejecting their offer for a three-year extension to the contract to cover the 2022-25 seasons. The stand-off has potentially seismic ramifications for club finances as the Chinese TV deal is the most lucrative in the world outside the UK, with Suning agreeing to pay £564m for the current 2019-22 cycle for the right to broadcast Premier League games on their digital channel, PPTV. That deal represented a 12-fold increase on the previous Chinese TV contract with Super Sports Media and the Premier League were budgeting for another significant rise for the next three years, which it was anticipated would help offset the flattening value of domestic TV rights. The Premier League claim that Suning are in breach of contract following their failure to pay, which is believed to primarily have resulted from the sporting shutdown due to coronavirus but may also have a political dimension. The clubs discussed the issue at last week’s shareholders’ meeting and are considering a range of options, including demanding an immediate payment, negotiating a revised payment schedule or terminating the deal. Suning have developed into huge players in the global TV market in recent years having also bought the rights to the Champions League, FA Cup, La Liga and Bundesliga matches in China, as well as a controlling interest in Inter Milan four years ago.