England's Premier League terminated its lucrative broadcast agreement in China, a move that could exacerbate the financial fallout one of the world’s most-watched sporting competitions is already seeing from COVID-19.
The league cut off access after its Chinese licensee withheld payment, according to a person familiar with the situation who asked not to be named because the matter is private. The value of the agreement has been reported at more than £500 million ($665 million) over three years.
The decision means Suning Holdings Group Co.’s PPTV, which held rights to a majority of Premier League matches in China, will not be able to show the start of the new season, scheduled for Sept. 12. The league is now seeking a new broadcast partner in China, according to the person familiar with the matter.