AFL And Seven Revise Contract, As AFL Loses $150M In Rights Fees
Seven West Media has announced a revised contract with the AFL for season 2020 as well as 2021 and 2022 and a further extension of two years for seasons 2023 and 2024.
SWM expects to derive $87m over the existing contract period (2020-2022) in media rights reduction, production savings and other benefits.
SWM Managing Director and CEO, James Warburton said: “We can’t wait to bring the Footy back to the fans tonight.
“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.
The 2020 AFL season recommence Thursday June 11 with Collingwood and Richmond open round two at the MCG.
While Foxtel and SWM will save about $200m on their AFL coverage for the next three years, the AGL is set to lose out on $150m.
While Seven has extended its existing contract through to 2024 with a contract worth $730m over five years, the AFL has failed to agree to an extension with Foxtel past 2022. Foxtel has been paying the largest share of the combined $2.5b broadcast contract.
The new deal represents roughly 13 per cent less than the previous deal, meaning the AFL will lose around $150m until 2022 in rights fees.
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