From the 2024 season onwards, the Champions League will undergo a big revolution. UEFA is set to introduce a new format for the Champions League, which will see the number of matches in the competition increase from 125 to 189, as well as the number of participants increase from 32 to 36.
As a result of the new format, not only will there be more excitement for fans, but the tournament will also have a better financial return. The increase in matches will improve broadcasting revenues and sponsorship revenues will also improve drastically.
The next Champions League rights will soon be up for grabs in many countries, so broadcasting companies will be keeping an eye out for rival trends.
Giorgio Marchetti, UEFA's competition director, provided insight into how the new format might impact the market. He said:
“We are working on [both] conservative and more optimistic projections in a range I would say between €4.6 billion and €4.8 billion”
US and UK market is expected to inflate
In terms of television rights, the US and the UK are two of the biggest markets of UEFA's income, and the UEFA's vision of reaching €5 billion for a media rights deal depends briefly on the performance of the market in the US and the UK.
This new model is estimated to generate €2 billion in the US market, double the amount of previous deals. The agreement currently stands between Paramount Global, CBS and Viacom, and Relevant Sports Group. In comparison to their previous trends, this deal lasts for six years.
In the UK market, where UEFA has traditionally found its biggest source of revenue, Amazon and BT Sport will enter into a partnership starting in 2024 as UEFA's new right holders.
However, BBC has secured the rights to broadcast highlights for three years. UEFA is estimated to generate €1.6 billion from the UK market.
In France, that number is estimated to reach €480 million with Canal+ holding the rights. However, Canal+ will not be able to broadcast the Champions League final, which will be free for all to watch on television, due to the fact that it has been designated as a "protected event".
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