Orange, a French telecom company, has renewed its sublicensing agreement for rights to LaLiga and UEFA club competitions with Spain’s Telefónica in a deal worth roughly $356 million, per SportsPro.
The deal is similar to the last contract between the two entities, but comes as Orange has seen its soccer audience grow by 43% over the last year.
- The renewed agreement is a result of a ruling by Spain’s competition authority that requires Telefónica to share its sports content with other telecom companies.
- The content includes LaLiga and Formula 1, among others.
Orange has more than 268 million customers in 27 countries and is the largest telecommunications provider in France, with a market cap of $29.73 billion.
Telefónica — also one of the largest telecom companies in the world — is the rights holder to the UEFA Champions League and the Europa League.
The company holds rights for a three-season cycle that begins with the 2021-22 seasons.
Orange reported $12.5 billion in revenue for Q2 2021, a 2.6% increase year-over-year.