Saudi Telecom signs $1.8bn deal to broadcast Saudi soccer
The telecom signed the memorandum of understanding with the government's General Sports Authority
Saudi Telecom has signed a tentative $1.8bn deal for the rights to broadcast Saudi Arabian professional soccer matches over the next 10 years.
The telecom signed the memorandum of understanding with the government's General Sports Authority for exclusive rights of the game, including Saudi Arabia's Professional Football League and the national team, plus sponsorship rights.
If finalised it would be that regional broadcaster MBC Group will no longer have the rights to the broadcast the sport. The group signed a 4.1 billion riyals, 10-year deal in July 2014 to maintain the exclusivity.
MBC Group's Waleed al-Ibrahim who has management control of the company, was detained for three months during the country's crackdown on corruption, but has since been released. According to senior officials, Ibrahim had agreed to an undisclosed settlement after confessing to unspecified violations, Reuters reported.
Reuters was unable to reach Ibrahim for a comment but MBC has said he has been found innocent of any wrongdoing and will remain in his position.