The Hanoitimes - National station Vietnam Television (VTV) at the eleventh hour has earned the right to broadcast live all 64 matches of the Federation International Football Association (FIFA) World Cup 2018 to be held in Russia in one week`s time.
An agreement was reached at 6:30 pm on June 8 between VTV and the FIFA on World Cup 2018 communication rights in Vietnam as well as sharing right with the third parties.
VTV was working with Viettel Telecom Corporation and Vingroup Joint Stock Company to jointly purchase the broadcasting rights. Accordingly, VTV, Viettel and Vingroup agreed to pay some VND340 billion (US$ 14 – 15 million) for the broadcast rights.
VTV earns World Cup 2018 broadcast right.
Earlier, VTV estimates for a loss of 90% of its investment if they want to win an exclusive right to broadcast all 64 football matches during the once-in-every-four-year event. For that reason, the Vietnamese broadcaster did not try to purchase the broadcasting right at all cost.
This is not the first time negotiations for broadcasting rights for major sports events have faced difficulties because of high prices.
It is the third consecutive time that VTV has won World Cup broadcasting right in Vietnam. It spent US$3.5 million in 2010 and US$7 million in 2014 for the right.
According to the FIFA, more than 200 countries and territories have already negotiated broadcast rights. Vietnam was the last to reach such a deal.
The FIFA World Cup 2018 will take place in 12 stadiums in Russia from June 14 to July 15. The opening ceremony will take place at 8:00pm (Hanoi time) on June 14. The opening match between Russia and Arab Saudi is scheduled for 10:00pm the same day.