The British chain claims to have been twelve months without income
This could lead to others demanding the same treatment.
Sky Sports plans to ask Liberty for a refund of F1’s television rights, which it has in Britain. Presumably the same will happen in Italy. If successful, other televisions will join the lawsuit, although the FOM maintains that the contracts are made in a way that only ensures a minimum of 15 races, although other sources cite 18 as the minimum number of races.
Sky Sports is the leading sports television station in Great Britain and this week it has reached an agreement with the powerful Premier League – the British first division of football – for a refund of part of the rights it has over football. The figure could be of the order of 170 million free, that is to say almost 200 million euros, practically half of what they pay for the Premier.
More than a first step, it is a precedent for what will happen with other sports to which you have rights, including F1. Sky says that it has been “twelve weeks without income”, that it has had to reduce subscription prices to its clients and its losses are considerable. It is not clear if the refund will be immediately or will be deducted from what you must pay in the coming years.
For F1 it would be an important stick. Sky is the highest-paying television station, and if it succeeds, many others may demand the same treatment. This would not only undermine Liberty’s accounts, but would also reduce the money that is distributed among F1 teams. It should not be forgotten that the GP behind closed doors will not pay the fee – or it will be symbolic – so the global figure can be dizzying.
This is one of the reasons why Liberty carried out a financial asset transfer operation to obtain liquidity.
All this comes when the teams and Liberty must urgently negotiate the new Pact of Concord, which must ensure a more equitable distribution of money in order to ensure the survival of the most modest teams.
If you want to read more news like this visit our Flipboard