Spanish telecoms giant, Telefonica, has won the rights to broadcast UEFA Champions League football matches in Spain, paying around €1.1 billion for the three year package.
A report in Palco 23 stated that Telefonica will pay close to €360 million per season to broadcast the games in Spain. The Spanish telco will be licensed to broadcast matches from the group and knockout stages of the tournament.
Telefonica was facing stiff competition for the broadcast rights from a number of online streaming firms. However, the current Covid 19 pandemic, and its subsequent impact on the global economy, has forced some of the smaller players to scale back their spending at this time.
The acquisition of sports broadcasting rights has been a key strategy for network operators across the world, looking to diversify their service offering, with national operators around the world looking to secure football rights. BT Group has made football a priority in the UK through its BT Sport service, whilst Telefonica has also secured rights elsewhere in Europe.
Telefonica is expected to offer Champions League packages to DAZN Spain, Mitele Plus and other OTT providers, according to a report by TVB Europe.