Arsenal

Arsenal, Chelsea and Tottenham set for £60m windfall as Premier League broker new £1.5bn TV deal

A bumper new US TV deal worth almost £1.5billion is expected to be finalised tomorrow with Premier League clubs set to learn the exact details at a shareholder meeting following a three-way race that has driven the price up by about 50%.

ESPN, CBS and current broadcaster NBC registered their interest to show games from next season to the summer of 2028, with the former submitting a late bid to force a second round of bidding.

CBS are since understood to have dropped out but the offers on the table, according to reports in the US, had already topped £1.1bn. Forecasters have suggested that the total amount will now hit $2bn (£1.48bn), quietening fears that the league’s broadcasting bubble had burst post pandemic following the collapse of their previous deal in China.

A £564million agreement with PP Sports, which was due to expire at the end of this season, was terminated last year after the broadcaster failed to make a payment, with Tencent taking up this season’s rights for a reported fee of less than £7.5million.

In July iQiyi Sports signed an undisclosed streaming deal up to the end of 2024/25 but linear rights for the next cycle are yet to be secured, according to reports.

The new US deal will likely lead to a windfall of more than £10million per club each season for the duration of the deal and, for the first time, the international broadcasting revenue is expected to overtake the value of domestic rights.

In previous seasons international broadcast revenue has been weighted in terms of where clubs finish in the table, meaning the big six are likely to earn more than those battling relegation.

It is unclear if that distribution model will continue going forward but working off the proviso of clubs making about £10m a campaign a £1.5bn may see the remaining £300m handed out as effective performance-related bonuses.

While NBC have had exclusive rights to the Premier League since 2013, the Disney-owned ESPN are determined to increase their offering to subscribers following a challenging couple of years. They recently paid $1.4bn (£1.04bn) to show La Liga and also hold the Bundesliga tender.

Speaking at a conference in New York last week, ESPN executive Burke Magnus said: “[The Premier League rights] haven’t been available until now. So, we ran our process. We did it with discipline. We’ll see [what happens]. [We’ve had] good conversations. We hope we understand what they were looking for as part of the process. And [I’m] excited to see where it goes.”

Meanwhile, the Premier League has another headache on its hands following the news that chairman Gary Hoffman is resigning after a majority of clubs aired their unhappiness following the Newcastle United takeover.

Hoffman, a 61-year-old former Barclays executive, was only appointed to the role 18 months ago and has been ousted following a secret vote of no confidence last week.