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Formula One TV Rights: The Baby-Like Innocence of Bernie Ecclestone
Published: August 4, 2011
So when it was announced that UK TV rights for the sport had been partially transferred from public broadcaster the BBC to subscription TV company Sky TV it was to be expected that much invective would be directed at Bernie.
But in this case, Bernie is an innocent man. The initiative for change did not come from Bernie, but from the BBC.
The BBC
Those resident outside the UK may not be aware that every UK household is charged a tax called a 'Licence Fee' to support the BBC. That tax is currently £145 per year, and refusing to pay it means prosecution.
Effectively the BBC is a subscription channel with the judicial system making sure nobody can opt out.
In the straitened circumstances faced by the United Kingdom of Great Britain and Northern Ireland the government has frozen the licence fee for three years. In consequence the BBC has been looking around for ways to save a little cash, although it will still be the world's largest broadcaster and still receiving £3.5B annually from licence fee receipts.
Management eyes at the corporation fell on the £31 million paid annually for the right to broadcast live Formula One races. Because there was a contract they could not just walk away from the deal, so they made an approach to Sky TV with the proposal that the broadcast rights be shared.
The Deal
A deal cooked up was for each broadcaster to show half of the races live. Bernie would doubtless have scoffed at such a notion, but there was a sweetener; Sky would put extra money in. The BBC would reduce their commitment to £15 million per year, and Sky would pay £25 million.
So at a stroke the value of UK TV rights to F1 had increased from £31M to £40M. Of course ...
Article Source: Bleacher Report - Formula 1
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