CyTA eyeing Premier League rights after bailing LTV out over APOEL

APOEL, the most 'commercial' football team in Cyprus

CyTA is also said to be interested in the broadcasting rights of APOEL, one of the largest teams in the island, for which LTV has the rights until 2016.
THE Cyprus Telecommunications Authority (CyTA) is eying the profitable broadcasting rights of the English Premier League as a part of an agreement with current rights holder Lumiere Television (LTV).

According to a source who wished to remain anonymous, CyTA bailed LTV out by giving them €500,000 to pay Nicosia football club APOEL, the TV rights to whose home matches LTV bought in 2012.

The Nicosia team received the sum of €670,000 last Friday, as a part of their €1.1 mil agreement with LTV.

The source maintained that CyTA secured an agreement for the rights for the German football league Bundesliga, with the rights to the Premier League, currently broadcast by LTV, expected to follow. It is unclear whether the decision to proceed with the agreement was put before the board of CyTA, prompting the question of why such a major decision was reached without the board knowing, only days before a bill in the House would open the road for privatisations.

It’s not the first time CyTA and LTV have collaborated. LTV channels are being broadcasted by CyTAVision, the digital television arm of CyTA, and this new development might signal a merge between the two companies.

CyTA is also said to be interested in the broadcasting rights of APOEL, one of the largest teams in the island, for which LTV has the rights until 2016.

LTV still owes around €300,000 to APOEL and it is unknown whether that sum will be paid.

Charalambos Prountzos, a member of the APOEL board of directors, told the Cyprus Mail the team will act within the constraints stipulated by the signed agreement. “Nothing more, nothing less. We will respect the terms of the contract,” Prountzos said.

When asked whether the team will go to court over contract breach, Prountzos remained cryptic responding that “we will stick to the terms of the contract”. Prountzos didn’t specify when LTV should have paid APOEL or what the new deadline is, given that a large chunk of that money is already deposited in the team’s account, citing confidentiality clauses.

By Constantinos Psillides / cyprus-mail.com