£125m reinvested back into sport from broadcast revenues
Sports bodies reinvested £125m from broadcast revenues into the long-term development of sport in the last financial year. Seven bodies made the commitment as part of the Voluntary Code of Conduct on the Broadcasting of Major Sporting Events.
The Code requires that sports events of significant national interest are made available to free-to-air broadcasters in live, recorded or highlights form so that they can be viewed by the vast majority of the population.
The Code also guarantees that signatories will put a minimum of 30% of net broadcasting revenues into the long-term development of their sports.
Commenting on the significant value of the Code, Sir David Scott CBE, Chair of the Code monitoring committee, said:
“The Code achieves two very important things. First, it makes the best sporting events available to everyone, regardless of their ability to pay for a subscription service. Second, it makes clear how the commercial success of elite sport helps fund the next generation of stars by ensuring that at least 30% of the net revenue raised from broadcast rights goes back in to the long-term development of sport.
“£125 million represents a significant contribution to the development of the respective sports and reinforces the importance of the Code as a collective commitment by governing bodies and event organisers.”
For more information on the Code please click here.