Australian pay-television horse racing channel TVN has acquired the rights to all thoroughbred racing held in the south-eastern states of New South Wales and Victoria, Australia’s two largest horse racing markets, in a sixteen-year deal, from 2013 to 2028.
TVN acquired the rights from Racing NSW and Racing Victoria, the governing bodies which represent the interest of the member racing clubs in each state. The deal is worth between A$300 million (€233.4 million/$291.6 million) per year and A$400 million per year, according to national newspaper The Australian.
TVN ousts incumbent rights-holder, rival pay-television channel Sky Racing.
Harold Mitchell, chairman of TVN, said: “TVN will hold the rights for Australia’s premium racing content, that being Victorian and NSW thoroughbred racing, until 2028. This decision is the culmination of more than seven years of work by the TVN board and management, in conjunction with its shareholder clubs in NSW and Victoria. More recently, the involvement and support of the governing bodies Racing Victoria and Racing NSW, has been vital to achieving this outcome.”