Thai telecom company, Jasmine International, has secured a landmark deal worth $560 million for exclusive live broadcast rights of the English Premier League and FA Cup matches. The agreement covers three Southeast Asian countries: Thailand, Laos, and Cambodia.
The new deal grants Jasmine International exclusive rights to live broadcast Premier League and FA Cup matches in the aforementioned countries. This arrangement is set to commence from 2025 and will last for a minimum of three seasons according to an exchange filing on November 11.
The contract can be extended up to six seasons if the firm receives written notification from the rights holder by December 1, 2024. This development signifies a shift in football broadcasting in Southeast Asia as Jasmine coverage is set to replace regional rivals True Corp who currently hold broadcasting rights for English soccer in Thailand.
Financial implications of the deal
Jasmine International's initial three-year rights deal comes with a hefty price tag of $233 million. However, this figure could rise up to $560 million should they opt for an extension into a six-year deal. To fund this venture, Jasmine plans on utilizing its existing cash flow along with loans from financial institutions subject to shareholder approval.
In comparison, TrueVisions' current agreement covering the Premier League matches through the ongoing 2024-25 season was unveiled earlier this year (March 2022) at an estimated value of $131 million across three seasons.
Jasmine's acquisition aims not only at increasing its customer base but also expanding its service’s presence specifically within Laos and Cambodia. Currently boasting over 600k customers on their streaming platform; securing such high-profile football leagues could potentially attract more subscribers thereby boosting their numbers significantly.
Recent developments in domestic audio rights
Last week saw another significant move by the Premier League as it sold its domestic audio rights for the 2025-26 through 2028-29 seasons. The rights were once again split between public-service broadcaster BBC and commercial talk radio operator TalkSport.
Six packages for Premier League games played at different timings have been distributed between the two, with four going to the BBC and two to News UK-owned TalkSport. As for domestic TV rights, they are set to be held by a combination of Sky Sports and TNT Sports for the next cycle – also spanning from 2025-26 to 2028-29.
This new deal represents a significant milestone in sports broadcasting within Southeast Asia. It not only highlights Jasmine International's commitment towards providing high-quality football content but also underscores the growing popularity of English soccer in this region.
