Seven West Media is expected to secure the broadcast rights for the V8 Supercars on a five-year deal, per the Herald.
According to the reports, Seven has been in talks with the motorsports company since Network Ten discontinued discussions in July.
Although the financial details of the deal are still unclear, it is expected SWM will pay less for the rights than Ten paid in 2015 ($241 million for five years).
Seven will broadcast six races a year under the proposed deal, according to the reports, including the Bathurst 1000.
Seven currently has the rights to the cricket and AFL and is also set to broadcast the delayed Tokyo Olympics next year.
If Seven does manage to snare the V8 Supercars rights, it will mark the second such deal company CEO James Warburton has been involved in.
Ten’s 2015-2020 deal was struck under the guidance of Warburton during his tenure as CEO of V8 Supercars.
Seven is currently in the process of reducing its debt pile, believed to be worth around $859 million.
The company recently brought in financial advisory company Grant Samuel to help to restructure SWM’s debt modelling and helping assist with talks with its banks.
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