Breaking: The AFL has secured a revised broadcast rights deal with partners Seven West Media and Foxtel in the moments before the return of this year's season
in exchange for a cost reduction on its existing deal, but that Foxtel was holding out on an extension for a larger discount.Seven will receive a discount of about 19 per cent and an $87 million net benefit between 2020 and 2022. It has also secured a two-year extension on "improved terms".
"The AFL and Seven are a core part of each other’s DNA, and we are delighted to have not only reached a revised agreement for the current contract term, but to have extended our relationship for a further two seasons taking the agreement through until the end of 2024," Mr Warburton said. The deal has enormous ramifications for the 18 clubs and players since it provides more than 60 per cent of the game's revenue in normal circumstances and far more during the crisis.
Foxtel has lost a large number of subscribers due to the suspension of sport and had been trying to renegotiate to receive compensation for the loss of sponsors and subscribers. The company has stood down more than 200 staff and axed more than 300 jobs in the last few months.
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