| 18.2°C Dublin

Finanaces take a hit as deal is axed

Close

The loss of income for the Premier League will be significant and could have an impact on clubs' finances

The loss of income for the Premier League will be significant and could have an impact on clubs' finances

PA

The loss of income for the Premier League will be significant and could have an impact on clubs' finances

Premier League clubs have been left with a half-a-billion pound black hole after terminating their broadcast contract in China, in a move that could cost them at least £160 million.

It has been reported that the television deal with Chinese broadcaster PPTV has been terminated due to an unpaid fee of £160million.

A Premier League statement read: "The Premier League confirms that it has today terminated its agreements for Premier League coverage in China with its licensee in that territory.

"The Premier League will not be commenting further on the matter at this stage."

In November 2016, the Premier League signed its biggest TV deal outside the UK when Suning Holdings paid £564m to broadcast matches for three years, from 2019-2022, via its digital channel PPTV.

The loss of income for the Premier League will be significant and could have an impact on clubs' finances.

Suning's failure to pay coincided with the coronavirus pandemic, which forced a worldwide sporting shutdown.

Premier League clubs considered negotiating a new payment plan with Suning or terminating the deal last month and have voted for the latter at yesterday's shareholder's meeting.