Riyadh – Mubasher: Saudi Telecom Company (STC) is still in talks with the Saudi Arabian Football Federation (SAFF) and the General Sport Authority (GSA) to complete drafting and review the memorandum of understanding (MoU) signed earlier this year.
It is worth noting that STC had signed a MoU with the SAFF and the GSA last February to obtain the exclusive broadcast rights for local football tournaments.
Accordingly, the duration of the MoU has been extended for an additional period until 1 July 2018, STC said in a filing to the Saudi Stock Exchange (Tadawul) on Sunday.
The duration could be extended if all parties agreed until they reach a final agreement, the company added.
The company will announce any further details regarding this matter later at the time, according to the filing.
Tadawul has stated that they and the Capital Market Authority (CMA) will not take any responsibility for the contents of this disclosure.
STC had previously said that the contract will be valid for 10 Gregorian years, on which getting the exclusive rights will be valued at SAR 660 million to be paid annually for 10 years, with a total value of about SAR 6.6 billion.
