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Premier League 'agrees major deal for Chinese TV rights' Premier League agrees major deal for Chinese TV rights
(about 1 hour later)
The Premier League has agreed a major new deal for its TV rights in China, which could be worth up to $700m (£560m), the BBC understands. The Premier League has agreed a major new deal for its TV rights in China, which could be worth up to $700m (£560m).
The three-year deal with Chinese video streaming service PPTV, part of retail giant Suning, is set to be the league's biggest-ever overseas broadcast sale. The three-year contract with Chinese video streaming service PPTV is set to be the league's biggest-ever overseas broadcast sale.
It would be worth about ten times more than the league's current TV rights deal in China. A PPTV source told the BBC a deal was in place.
The Premier League has yet to confirm the deal. If the reported value is confirmed, it would be worth ten times more than the league's current China TV deal.
Chinese retailer Suning is already invested in European football after it bought a controlling stake in Italian club Inter Milan in June. The Premier League is yet to comment.
China's President Xi Jinping has led a drive for the country's businesses to invest more in football in a bid to turn China into a footballing superpower. Superpower ambitions
PPTV is owned by Chinese retailer Suning, which is already invested in European football after it bought a controlling stake in Italian club Inter Milan in June.
China's President Xi Jinping has led a drive for businesses to invest more in football in a bid to turn the country into a footballing superpower.
He has set a target for the nation to be the world's biggest sports economy by 2025.He has set a target for the nation to be the world's biggest sports economy by 2025.
Manchester City, West Bromwich Albion and Aston Villa are among the English clubs to have received investment from China over the last year.Manchester City, West Bromwich Albion and Aston Villa are among the English clubs to have received investment from China over the last year.
Audiences for Premier League football are also growing strongly in China, with English clubs seeing the world's second largest economy as a major growth market.Audiences for Premier League football are also growing strongly in China, with English clubs seeing the world's second largest economy as a major growth market.
The nation's own Super League is also helping to fuel the boom, as it attracts well-known players and managers from the European leagues.The nation's own Super League is also helping to fuel the boom, as it attracts well-known players and managers from the European leagues.
The Associated Press news agency reported that the TV deal would be worth $700m, working out at $233m-a-year starting in the 2019-2020 season. The Associated Press news agency reported that the TV deal would be worth $700m, working out at $233m-a-year starting in the 2019-2020 season. Other reports have suggested the deal is worth $600m.
It said details of the negotiations with PPTV were still confidential. Other reports have suggested the deal is worth $600m.
The Premier League's largest overseas TV rights deal is currently with US broadcaster NBC, which paid $1bn for six seasons, or $167m per campaign.The Premier League's largest overseas TV rights deal is currently with US broadcaster NBC, which paid $1bn for six seasons, or $167m per campaign.
But the main source of the league's income still comes from the UK.But the main source of the league's income still comes from the UK.
British broadcasters Sky and BT last year agreed to pay a record £5.14bn for three seasons, starting with the current 2016-2017 campaign.British broadcasters Sky and BT last year agreed to pay a record £5.14bn for three seasons, starting with the current 2016-2017 campaign.