The League is no longer the illusion machine of yesteryear. Ask the Walt Disney company, which through its subsidiary ESPN acquired the rights to Spanish football until 2029, and that have seen how this week the value of their shares have fallen by 6% on the New York Stock Exchange without the millionaire agreement having had any positive effect on investors.
Disney started the week with a price per share of 184.3 dollars and ended up finishing it with a price of 173.7. The League officially announced this past Thursday the agreement with the American audiovisual giant, although in the stock market lies the rumor had already been circulating since Monday. The fact of the formalization of the agreement did not stop the free fall of the North American company, which it yielded 2.55% in value this Friday.
Comparisons with other ads made by Disney are hateful to say the least, since the multinational did notice effect and enthusiasm in shareholders as happened in December 2020. At that time they announced the creation of more content for another audiovisual platform of your property, Disney +, raising their shares 15% in just one day. It was the day they revealed their plans to create 10 series from both the Star Wars and Marvel sagas generating an excessive euphoria in investors.
After spending about 1,200 million euros for having the audiovisual rights of the Spanish League until 2029 – at a rate of 150 million per season -, the market seems not to have applauded Disney’s ambitious move to bring soccer to America. In fact, the company has seen in the session this Friday how competitors such as Amazon (+ 1.98%), Netflix (+ 1.37%) or Warner (3.27%) have risen Without any problem in the face of this commitment to a product that has a limited journey in the Yankee world and that, surely as happened in China, It will only have as victims the fans with the schedules.
Historic agreement between @LaLiga and @ESPN in the US and Canada. An 8-year alliance that will give stability and visibility to the Clubs, and that reflects LaLiga’s strength in the world’s largest media and sponsorship market. # EsLaLiga # EsSuper # EstaLigaSiEsSuper pic.twitter.com/WhbJPZz3Y3
– Javier Tebas Medrano (@Tebasjavier) May 14, 2021
Remember that to sign with Disney, Tebas has had to unilaterally break the contract that linked it with BeIN Sports, who owned the rights to the League in the United States until 2024. The clubs will have to pay compensation to the Qatari channel for this breach of contract that, obviously, looks like it will end up in court. Tebas excuses itself in that the competition has had little repercussion in the country due to diffusion problems with the operator.