Friday, September 18, 2020

Govt fronts cash for Olympic broadcast licences

Jan 22. 2020
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By The Nation

The Cabinet on Tuesday (January 21) allocated Bt240 million to help broadcasters acquire the rights to upcoming Olympics and the 2022 Asian Games, but the government expects the full amount to be paid back from their earnings.

The Ministry of Tourism and Sports had sought financial support for this summer’s Olympic Games in Tokyo, this year’s Winter Youth Olympics in Lausanne and the 2022 Winter Olympics in Beijing, Summer Youth Olympics in Dakar and Asian Games in Hangzhou.

Plan B Media Plc will oversee the purchasing of broadcast licences and public promotion, with a total outlay of Bt480 million less broadcasting technical fees.

The Sport Fund announced last August that the government would earmark Bt240 million for the licences on the condition sponsors would be secured with financial support beyond that amount.

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