World Cup fans in China and India face broadcast uncertainty

An important development from the financial markets: World Cup fans in China and India face broadcast uncertainty6 minutes ago Share Save Add as preferred on GoogleOsmond ChiaBusiness reporterNurPhoto via Getty ImagesMillions of football fans in India and China face uncertainty over whether or not the World Cup will be shown in their countries as broadcasters have yet to reach deals with football's governing body, Fifa. It is unusual for TV rights deals to not be agreed for an event of this scale with just weeks to go before it is due to start. Such agreements are typically settled months, if not years, before the opening ceremony.

Local media in both countries have said Fifa and broadcasters are still wrangling over the cost of showing the games. Fifa told the the that talks in China and India "are ongoing and must remain confidential at this stage", without commenting on the fees involved. A total of 180 territories have now completed deals with Fifa, the global football organisation said.

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But a handful have yet to secure the rights to broadcast the 2026 World Cup, including India and China - which together account for around a third of the world's population. Fifa's initial offer to state broadcaster China Central Television (CCTV) for rights to the tournament was reportedly as high as $300m (£220m). Fifa has now lowered the price to between $120m and $150m, according to state-controlled newspaper Beijing Daily.

But that is still more than double CCTV's budget for the event, the paper said. Beijing Daily said that as China has not qualified for the tournament there would be less interest in the event amongst football fans in the country. The paper also noted that the time difference between China and North America means that many high-profile games will be played in the early hours of the morning for Chinese fans.

Deals between China and Fifa were struck far earlier for recent World Cups. Fifa announced in November 2017 that it had reached an exclusive agreement with CCTV to broadcast both the 2018 and 2022 World Cups. While an agreement has not yet been struck between Fifa and an Indian broadcaster, local media reported this week that a deal was likely to be announced soon.

Financial markets are tracking the development closely as investors assess the likely impact.