STC terminates Saudi soccer games broadcast contracts

19/08/2019 Argaam

 

Saudi Telecom Co. (STC) has terminated contracts with the General Sports Authority (GSA) and Saudi Arabian Football Federation (SAFF), it said in a statement to Tadawul.

 

"These contracts were reviewed and they were proved commercially unfeasible," the statement added.

 

STC expects no relevant financial impact resulting from the contract termination.

 

Last August, the telecom operator had signed a contract for TV and digital broadcasting and marketing sponsorships with GSA and SAFF. The 10-year contract started from season 2018-19 and costed SAR 660 million annually, which was to be self-funded, Argaam reported previously.

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