Saturday , November 28 2020
Home / Sports / Vietnam Television to buy World Cup rights at $7mn: source

Vietnam Television to buy World Cup rights at $7mn: source

National TV station Vietnam Television (VTV) has reached an agreement with a foreign partner to buy the rights to broadcast the matches of the 2014 FIFA World Cup in Vietnam at the price of US$7 million, according to a source close to VnExpress News.

Nguyen Ha Nam, head of the VTV editorial department, told VnExpress, “The negotiation with MP&Silva for the deal is planned to be completed by later tonight.

Vietnam Television to buy World Cup rights at $7mn: source
Vietnam Television to buy World Cup rights at $7mn: source

“If nothing changes, VTV will organize a press conference to announce the deal on Wednesday morning.

“However, we will not announce financial matters officially since it must be kept confidential.”

Tuoi Tre confirmed the price of the deal at $7 million thanks to a close source. The price is 2.5 times higher than what Vietnam paid for the same rights in 2010 (only $2.7 million).

VTV will also share the rights with other provincial TV stations in Vietnam, Nam said.

Besides economic issues, MP&Silva accepted the lower offer because it is committed to the popularization of major FIFA tournaments in Vietnam, a potential football market.

Months ago, MP&Silva, an international media agency appointed by FIFA to distribute its TV rights in the Southeast Asian nation, offered the rights to Vietnam at $10 million.

All Vietnamese TV stations refused the asking price then.

The 2014 event will be the 20th FIFA World Cup, an international men’s football (soccer) tournament that is scheduled to take place in Brazil from June 12 to July 13.

National teams representing 31 countries advanced through qualification competitions that began in June 2011 to participate with host Brazil in the final tournament.

A total of 64 matches are to be played in twelve cities across the South American country in either new or redeveloped stadiums.