AVG hands over TV rights to VPF for free

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Báo Tuổi Trẻ English - 69 month(s) ago 8 readings

AVG hands over TV rights to VPF for free

The dispute revolving around the country’s football TV rights over the last four months came to an official end yesterday as the three involved parties happily sat down together to ink a new rights transfer deal.

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>> VPF says football TV rights are in its hand

Under the new agreement, digital TV provider AVG officially handed over the TV rights of the country’s football leagues to the Vietnam Professional Football (VPF) at a transfer fee of zero.

AVG has only one requirement: that VPF fulfills its commitment to earn at least VND50 billion in revenue from exploiting the TV rights to serve Vietnamese football, it said.

The contract-signing meeting featured Le Hung Dung, deputy chairman of the Vietnam Football Federation, AVG chairman Pham Nhat Vu, and VPF chairman Vo Quoc Thang and his deputy Nguyen Duc Kien.

“AVG has reaped no profits from TV rights since acquiring them in 2010, and has even incurred losses,” said Vu, adding that AVG accepts all such losses.

“VFF appreciates and feels satisfied at the tie between AVG and VPF,” said Dung.

Commenting on the VND50-billion commitment, Kien said this will be applicable as of the 2013 season.

“VPF will be in charge of the allotment of the earnings from football TV rights,” he added.

Early on, Kien said VPF will mobilize ten of the country’s leading businesses to form a board of sponsors for Vietnamese football.

Each business on the board of sponsors has to pay VPF VND10 billion a year to air their ads on local TV stations during a designated period in every match.

“There are already 10 businesses that are willing to join the board,” Kien told a press briefing on April 23.

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