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The Premier League has terminated its £564m contract with its Chinese licensee PPTV, with immediate effect, reports today confirmed.
The television deal with Chinese broadcaster PPTV has been terminated due to an unpaid fee of £160million.
China is the country where the Premier League gets its most lucrative overseas television rights, and this could serve as a big blow to the league.
The Premier League signed its biggest TV deal outside the UK back in November 2016, when Suning Holdings paid £564m to broadcast matches for three years, from 2019-2022.
PPTV is owned by Suning Holdings, the Chinese group which also has a controlling stake in Serie A side Inter Milan.
In a statement on Thursday, the Premier League said: “The Premier League confirms that it has today terminated its agreements for Premier League coverage in China with its licensee in that territory.
“The Premier League will not be commenting further on the matter at this stage.”
With the Premier League clubs already deprived of hundreds of millions of pounds through lost ticket sales and commercial revenue, the collapse of this agreement is another major financial blow to clubs who have since seen their finances plummet.