The Premier League Club was forced to terminate a contract worth 564 million pounds with the licensee to broadcast the Premier League competition in China.
China was the most profitable foreign TV rights region for the Premier League, with a three-season deal agreed in 2019, and the reasons for canceling the agreement are alleged to be financial, not political.
According to press reports in this regard, the Chinese live broadcasting service “BBTV” withheld its last payment of 160 million pounds, which was due for payment in March.
The Premier League said in a statement on Thursday: “The Premier League confirms that today it has concluded its agreements to cover the Premier League in China with the licensee in that region.”
The Premier League did not provide a reason to terminate the agreement after only one season of a three-year contract, adding the statement: “The Premier League will not comment more on this issue at this stage.”
BBTV is owned by the Chinese Suning Holdings Group, which also owns one of the largest stakes in Italian club Inter Milan.