PPTV's 'missed rights payment' causes headache for Premier League
There is uncertainty over the future of one of the Premier League's biggest international rights deals, with PPTV, the Suning-owned streaming platform, having failed to make a rights-fee payment earlier this year during the suspension English soccer's top-flight because of the coronavirus pandemic.
In addition, PPTV's bid to negotiate the deal down and offer to extend the $700 million contract for three more seasons has been rejected by the league, the UK's Daily Mail newspaper has reported.
PPTV missed its payment, worth a reported £160 million ($209.5 million) in March.
The matter was discussed at last week's Premier League shareholders’ meeting, with three options reported to be on the table: demand an immediate payment; negotiate a revised payment schedule; or terminate the deal.
When contacted by Sportcal today, the Premier League said it does not comment on commercial matters or contract confidentiality.
PPTV, and state broadcaster CCTV, hold Premier League rights in China until the end of the 2021-22 campaign, in a three-year, $700 million deal
Last month, CCTV moved its Premier League coverage to the less-popular CCTV5 Plus Sport channel, the consequence of an intensifying diplomatic dispute.
The CCTV action came amid growing tension between London and Beijing, with the UK government having imposed a ban on domestic mobile providers buying 5G equipment from Chinese technology firm Huawei after 2020, and ordering a phase-out of the kit by 2027, and opposing a new security law that has been imposed in the former British colony of Hong Kong.