Seven attempted to sell the broadcasting rights of the Big Bash League to 10 in an effort to reduce its significant debt.
As first reported on SMH, Seven held discussions about a potential sale with 10, who held the BBL rights up until 2018 when Seven took over. The SMH reports 10 declined the offer.
In April 2018, Seven and Foxtel signed a six year rights deal with Cricket Australia (CA) estimated at the time to be worth $1.2 billion.
The deal would see Seven own the rights to all of the international Test matches and some of the T20 Big Bash League matches, with Foxtel gaining the rights to broadcast everything on offer from October 2018.
As reported on the SMH, 10 declined to buy back the rights due to tighter budgets at 10, while some sources told the SMH it was not interested due to its already successful content slate.
It appears Seven could be in a lot of trouble, especially considering the current coronavirus pandemic, which has caused the cancellation of countless events around the world, including most recently SXSW.
As Seven hold the rights to the 2020 Tokyo Olympics, should the Games be cancelled, it would spell a massive headache for Seven, who has structured its entire strategy around the Games.
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