Paramount pays $1.5BILLION to beat Amazon to US broadcast rights for the Champions League in a six-year deal to keep European soccer on CBS: Worth DOUBLE the previous contract
- Paramount is keeping the US media rights for the UEFA Champions League
- Agreement runs from 2024 to 2030 and is said to be worth $250m per year
- This year’s Champions League final attracted 2.8million viewers on CBS
Paramount Global have won a battle with Amazon to renew the US media rights for the UEFA Champions League in a deal valued over $1.5billion.
Paramount, who own CBS, is more than doubling the size of its previous contract, paying $250m per year across a six-year deal from the 2024-25 season. Amazon were the highest rival bidder, a report in Bloomberg revealed.
It represents a huge investment in live sport – and soccer. CBS have recruited a team of big-name studio staff for the Champions League, including former Premier League stars Thierry Henry, Jamie Carragher and Micah Richards.
By comparison, NBC’s deal for the Premier League TV rights is worth $450m per year over six years. Apple TV is paying $250m per year for Major League Soccer rights.
Paramount have agreed a new deal for the US media rights for the Champions League
Thierry Henry and Micah Richards are among the big names on CBS’ soccer coverage
May’s Champions League final, won by Real Madrid against Liverpool, saw 2.8million viewers tune in on CBS and their coverage has been widely lauded.
Paramount/CBS also have coverage of the lower-tier Europa League and Europa Conference League as part of their deal.
UEFA, the Union of European Football Associations, is still seeking a deal to sell off the Spanish language rights to the Champions League.
The Champions League will be reformatted when the new broadcast contract kicks in in 2024. The tournament is expanded to 36 teams, playing more matches in a ‘Swiss model’ group stage.