Serie A and CBS Sports at stalemate over renewal deal

November 30, 2023 Trending News

Exclusive: Sources tell World Soccer Talk that CBS Sports and Serie A are at a stalemate about the renewal of US media rights to Italy’s top-flight league.

Currently, CBS Sports is in its final season of Serie A coverage from the deal that was signed in 2021. The exclusive US rights run through until the end of the 2023/24 season. After launching the process in June to sell its US media rights, expectations among industry insiders were that a deal would have been announced by now, but talks have hit a major obstacle.

Sources have told World Soccer Talk that executives from both Serie A and CBS Sports have been unable to agree on a renewal and that CBS Sports may be likely to walk away from the renewal deal.

Serie A and CBS Sports: The bone of contention

As recently as September, CBS Sports was optimistic about the chances of renewing the rights to Serie A. At that time, a CBS Sports executive told World Soccer Talk “We’re having conversations [about renewing the deal],” and “We’ve got a lot of momentum with that property.”

For Serie A, everything changed in October when its domestic rights deal with DAZN and Sky in Italy failed to generate the increase in rights fees that the clubs wanted to compete with Europe’s bigger teams. The deal agreed was a five-year deal worth 4.5 billion euros (approximately $4.91 billion). That disappointing figure put more pressure on Serie A to generate greater revenue in the overseas markets. With the United States being the top media market in the world, Serie A knew it needed a sharp increase in rights fees to make up for it.

However, Serie A has been unable to get what it wants.

We’re now at a standstill where Serie A is expecting far more for its US media rights than the reported $75.8 million per year that CBS Sports is currently paying for both Serie A and Coppa Italia. At the same time, the valuation that CBS Sports has put on the renewal offer is significantly less than what Serie A…


Source link : https://worldsoccertalk.com/tv/serie-a-and-cbs-sports-at-stalemate-over-renewal-deal-20231130-WST-474065.html

Author : Christopher Harris

Publish date : 2023-11-30 17:41:35

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