Any deal on Irish racing’s lucrative media rights doesn’t look like being completed until later this year.
Hopes that an agreement for the sale of rights after 2023 might be concluded before the end of 2021 haven’t come through, although officials insist demand for pictures is “very strong”.
The current deal which runs up to the end of next year is understood to be worth about €40 million a year to Irish racing.
It proved controversial when signed in 2017 as it resulted in coverage of the sport being put behind a paywall on Racing TV.
That direct to home coverage was part of a successful package offered by Sports Information Services (SIS) and the Racecourse Media Group (RMG), which is an umbrella body for the majority of racecourses in Britain.
Prior to that Irish racing was free on the Attheraces channel, now known as Sky Spots Racing.
However, media rights income has proved particularly invaluable to racecourses denied spectators through the turnstiles during the Covid-19 pandemic.
Almost 85 per cent of the sale of media rights goes to Ireland’s 26 racecourses, with the rest going to Horse Racing Ireland.
“In relation to the sale of media rights beyond 2023, we have sought expressions of interest from interested parties,” said Conor O’Neill, chairman of Horse Racing Ireland’s media rights committee
“We appear to have very strong market interest from interested parties and we will be continuing to engage and evaluate with any party interested in acquiring the rights beyond 2023 to ensure we get the possible deal for Irish racing.” The Punchestown boss wouldn’t be drawn on who those parties are.
However, it is understood that RMG, SIS and Sky Sports Racing are in the running again, with the potential for a bidding contest that could increase the value of the rights significantly past €40 million per year.
Both RMG and Sky Sports Racing declined to comment on the matter.
Sources believe any deal is unlikely to be reached until later this year, with one predicting it will be “months” before there is an agreement.
It is understood that face to face meetings on the matter between the various parties and HRI are yet to take place and the prospect of different media rights being negotiated separately hasn’t been ruled out.
Under the current deal, direct to home, international and streaming, as well as pictures for betting offices are under the one umbrella.
However, demand for international and streaming rights has increased significantly in recent years.
