NBC may cut fee for Tokyo Olympics due to Right to…

first_img Tokyo Olympics: BCCI provides fuel in Indian Olympic flame, to contribute Rs 10 crore WTC Final Live- Ind vs NZ: Kyle Jamieson bags 5th five-wicket haul in 8th Test, rattles India in WTC final By Kunal Dhyani – August 4, 2020 RELATED ARTICLESMORE FROM AUTHOR NBC may cut fee for Tokyo Olympics due to Right to Abatement clause Cricket WI vs SA 2nd Test Day 3 Live: Roach removes Markram in the first over; SA 5/1 (2 ov) – Follow Live Updates Formula 1 A consolidated statement of activities put total support and revenue for the USOPC over the 2019 calendar year at $205.2 million (£156 million/€174.4 million).Total expenses were put at $244 million (£186 million/€207 million). TAGSNBCOlympicsTOKYO OLYMPICS SHARE Share on Facebook Tweet on Twitter by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeE! OnlineTLC’s So Freaking Cheap Takes Penny-Pinching to the ExtremeE! OnlineUndoMicrosoftBring your desktop to life with Bing WallpaperMicrosoftUndocio.comUnlocking the Success of Digital Transformation with Active Intelligencecio.comUndoThe new note in USOPC accounts also states that US body is negotiating with “multiple current sponsors” as well as “various vendors in Tokyo” to “accommodate” the postponement of the Games. YourBump15 Actors That Hollywood Banned For LifeYourBump|SponsoredSponsoredUndoDefinitionTime Was Not Kind To These 28 CelebritiesDefinition|SponsoredSponsoredUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factory|SponsoredSponsoredUndoPost FunThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayPost Fun|SponsoredSponsoredUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funny|SponsoredSponsoredUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinition|SponsoredSponsoredUndo The 2011 deal attributed NBC with the US rights to broadcast the four editions of the Games between Sochi 2014 and Tokyo for a total price of $4.38 billion (£3.3 billion/€3.6 billion) The USOPC indicates that its agreement with NBC for this period calls for it to be paid a total of just under $558.6 million (£427 million/€474 million).The broadcaster subsequently agreed a $7.65 billion (£5.8 billion/€6.50 billion) deal for US rights all the way through until 2032, in one of the most important commercial agreements in the IOC’s history, the Insidethegame reported.Out of this, 12.75 per cent is to be paid directly to the USOPC. IOC, meanwhile, is known to have cancellation insurance relating to Tokyo, the report added. Euro 2020, Switzerland vs Turkey LIVE: Shaqiri doubles Switzerland’s lead after Seferovic opener at HT; Follow Live Updates Latest Sports News Football If the Tokyo Games were held as per normal in their time-slot– which was this year — it is possible that any reduction to the $1.418 bn fee, which was reportedly agreed in 2011 might be relatively small. The contract is until 2032.Under the present circumstances, however, this cannot be guaranteed. The negotiations, moreover, would not occur until “after completion of the Games in 2021.” The note given by the United Stated Olympics and Paralympics Committee (USOPC) accounts has also revealed that the deferment of Tokyo 2020 triggered a “Termination Rights clause” in the NBC agreement under which the broadcaster could have opted to terminate the contract within 10 days.However, in the current situation, NBC opted not to do this.center_img Bengaluru BCCI to form committee to take call on compensating domestic cricketers F1 French GP 2021: Max Verstappen pips Lewis Hamilton to win French GP, Perez finishes 3rd PSL 2021 Playoffs: Schedule, Timing, LIVE streaming, list of champions; all you need to know Cricket Facebook Twitter The one-year postponement of the Tokyo Games has triggered a “Right to Abatement” clause which may enable NBCUniversal to cut fee for the Games. According to a report by Insidethegame.biz, this is said to stipulate that “NBC and the IOC shall negotiate in good faith an equitable reduction in the applicable broadcast rights payments”. Previous articleWWE Raw Preview Randy Orton is ready to face off against Kevin Owens next week on RAWNext articleVirat Kohli’s wife Anushka Sharma spills some beans about their relationship Kunal DhyaniSports Tech enthusiast, he reports on Sports Tech industry and writes on sports products. Cricket WTC Final IND vs NZ: Virat Kohli displays his dancing skills on the beats of Bharat Army’s Dhol; Watch video Latest Sports NewsSport Tokyo Olympics: Deepika Kumari to be sole entry to Tokyo Games as Indian women’s recurve team fails to qualify Cricket ISL: Sunil Chhetri extends Bengaluru FC stay until 2023 Cricket Latest Sports News last_img

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