Globo and DAZN finishes TV broadcasting rights agreements with Conmebol in Brazil for Copa Libertadores and Copa Sudamericana

The Brazilian group Globo and the OTT DAZN, which began its operations in Brazil in May last year and is currently working on its expansion plans to more countries in Latin America and the rest of the world, decided to finish the TV broadcasting rights agreements they had available with the South American Football Confederation (Conmebol) in Brazil. Globo’s TV broadcasting rights agreement is for the TV rights of the Copa Libertadores, and that of DAZN, for those of the Copa Sudamericana and the Recopa Sudamericana.

Globo sent a letter to the entity asking to cancel the agreement, while DAZN has already made it effective. Globo and DAZN’s agreements with Conmebol were valid until 2022. According to specialized websites in Brazil, the purpose of canceling the agreements is focused on a strategy to renegotiate them and pay a lower amount to broadcast the sporting events already mentioned. The end of them is based on a clause, which establishes that they can be finished in case that tournaments remain cancelled for a long period of time. Conmebol competitions were suspended in March due to the pandemic, and will be resumed in September.

‘Faced with the extremely challenging stage caused by the economic crisis and enhanced by the pandemic, Globo has been making a complete review of its TV rights portfolio. In this context, and taking into account the suspension (of the Copa Libertadores) for several months, the company tried to renegotiate the agreement with Conmebol, but, unfortunately, there was no possibility to come to terms. Thus, there is no alternative but to finish the agreement’, Globo reported to UOL about the determination.

Furthermore, Globo also tried to renegotiate its agreement with FIFA for the TV rights of the next World Cup for Brazil, although it was unsuccessful in the negotiation. On the other hand, DAZN and the Italian Professional Football League also sought to renegotiate TV rights due to the pandemic.