According to The Times, Premier League are set to land a record overseas broadcasting rights deal meaning that the income over the next three seasons from broadcasting deals will break the £10 billion barrier. This will be the first time in history that overseas broadcasting rights will be more than domestic broadcasting rights.
Reports suggest that over the next three years, the international deals will go up by 30 percent. The international deal will be worth around an estimated £5.3 billion. While the domestic broadcasting rights will bring in an estimated £5.1 billion. Of that money, around £1.6bn is expected to be handed to the English football pyramid below.
Reports suggest that new broadcasting deals have been struck with Nordic Entertainment Group and NBC. These deals account for around £2 billion of that three-year total. The Daily Telegraph describes the overseas broadcasting situation as ‘bidding wars in America and beyond’.
What does the record deal mean for the Premier League prize money?
The Times have also reported that the broadcasting deals will further add to the prize money clubs receive at the end of every term. The Premier League champions received prize money close to £153 million. But now the 2022/23 Premier League champions will receive a sum close to £176 million.
The prize money for the club that finishes dead bottom of the league is also up. Previously the club received around £97 million. But now the club will receive a sum close to around £106 million in prize money.
The sum will not be distributed among the Premier League clubs equally. But the clubs finishing further up the table will be rewarded even further with the new broadcasting deal. This was previously not the case. But the chief executive Richard Masters saw a rebellion from the ‘big six’ over the prize money distribution.
Reports now suggest that the Premier League are set to enter negotiations with the English Football League about the solidarity payments, including parachute payments.
The record deal just shows the popularity and dominance of the Premier League around the world. No other top league in the world is anywhere close to those numbers. These new record deals landed by the Premier League furthermore may add to the dominance of English sides in European competitions.
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