Network 10 has confirmed its exit from V8 Supercars negotiations, with Seven now in prime position to take over the contract from 2021.
Sources told The AFR that the head of Fox Sports Australia Peter Campbell was hoping to bring 10 back as its free-to-air partner, discussing a two-year deal.
However, 10 confirmed to B&T that it would not be renewing its contract past 2020.
A spokesperson said: “Network 10 will not renew its contract with the Virgin Australia Supercars Championship, which expires at the end of this year.
“We look forward to finishing on a high with the 2020 Bathurst 1000 in October. We wish the drivers, crews and all those behind the scenes the very best for the 2021 season.”
It is understood there were several reasons 10 walked away from the contract, including a decline in TV ratings, the end of the Holden/Ford rivalry, and the loss of one of its main drawcards, Scott McLaughlin.
B&T also understands that as a TV product, Supercars was unprofitable for 10 due to the fact Foxtel and Supercars would both be chasing the same sponsorship and advertising dollars.
Sources told B&T pricing for the new deal was also out of touch.
