The television rights battle for sporting events in Australia has become increasingly fierce and competitive but the racing industry has just secured one of the biggest contract extensions in the country.
The Victorian Racing Club in partnership with racing broadcaster TVN have announced an extension to their television broadcast agreement going all the way until 2026.
The VRC has plenty of leverage as they are part owners of TVN but the negotiation of a formal Heads of Agreement with the pay-tv channel to include exclusive media rights for 15 years is still a fantastic achievement.
“This Agreement provides certainty with respect to the provision of Flemington’s coverage for the purposes of wagering, under the soon-to-be-announced new Victorian wagering licence,” VRC chief executive Dale Monteith said.
“This long term contract ensures that racing in Victoria is acknowledged in a financial sense, for the significant value inherent in its racing product.”
The deal means TVN is now the dominant player in Victorian race coverage with media rights for all of the state’s racing clubs.