China is all set to become the Premier League’s most lucrative broadcasting territory abroad.
The owners of Inter Milan and Chinese Super League club Jiangsu Suning have signed a bumper deal with the Premier League for the exclusive television rights of the English top tier in China.
The Suning Holdings Group have signed a mega three-year-contract, that starts from the 2019-20 season for the broadcasting rights of the Premier League in China and Macao.
The previous best foreign deal was with US television network NBC that paid around $US166.66m per year for the broadcasting rights of the Premier in the United States, but the new China deal will be a major upgrade to that with an approximated revenue of around $US240.33m per year.
Reports also suggest that the new deal will pay almost ten times what the current deal wit Super Sports Media Group pays.
The Suning Holdings Group started the their sports venture in December 2015 with the capture of CSL club Jiangsu Sainty, and changed the name to Jiangsu Suning – while they purchased the majority share in Inter Milan in June this year.
The CSL club have made significant transfers since the take-over, having captured the likes of Ramires and Alex Teixeira for a combined £75m.