Australian touring car racing series Supercars has signed a new broadcasting deal with Foxtel and Seven West Media reported to be worth A$200 million (US$131 million) over four years.
Supercars said the agreement meant every event would be broadcast live on Foxtel and its Kayo Sports streaming service, with Seven West keeping free-to-air rights to ‘marquee’ events for its Seven Network and 7Plus streaming service.
Supercars described the deal as ‘record-breaking’ without revealing the value, but the Australian Financial Review newspaper put it at $50 million per year over the period 2026 to 2029.
"The agreement with Foxtel Group and Seven is not only the biggest in our history, but demonstrates the strength, popularity and future potential of our category," Supercars Chief Executive James Warburton said in a media release.
The agreement is a 25% increase on the $200 million broadcast deal covering the 2021-2025 seasons, which equates to $40 million per year, and $150 million ($30 million per year) for the 2015 to 2020 seasons.
“It’s certainly a substantial jump,” one analyst said.
Foxtel is owned by global sports streaming giant DAZN.
Racing Australia Consolidated Enterprises Ltd (RACE), the owner of Supercars, reported a 16.2% lift in normalised earnings before interest, tax, depreciation and amortisation to $6.82 million on revenue, which increased 12.5% to $126.57 million in 2023.
At the time of writing Seven West Media (ASX: SWM) shares were trading 0.3 cents lower at 15 cents, capitalising the company at $234.33 million.
