Paramount lands UEFA Champions League rights in U.S. for $1.5bn
Paramount Global is keeping U.S. rights to the UEFA Champions League at a much higher price.
The CBS parent company re-upped on a six-year, $1.5 billion deal. The $250 million annual price tag represents significant growth from the previous pact of $100 million per year.
Paramount has held U.S. rights since the 2019-20 season and the new deals will run from 2024 to 2030.
Paramount was selected for its combined reach in linear and streaming, as well as its established relationship with UEFA after having 43.3 million subscribers at the end of the second quarter.
While European soccer rights typically operate on a three-year cycle, UEFA and Paramount saw value in continuity over a longer term.
The deal came out of a tie-up between UEFA and the European Club Association, which selected Relevent Sports Group to handle its media rights negotiations.
UEFA will sell Spanish language rights separately — they’re currently the property of Univision for around $50 million annually.
