- Amazon.com Inc AMZN neared a deal to broadcast Europe's top football tournament in the U.K. for the first time, Bloomberg reports.
- Broadcasters, including BT Sport are looking to forge a media rights deal with UEFA, the governing body for professional football in Europe.
- The broadcasters will share coverage of UEFA's flagship Champions League competition and the Europa League and Europa Conference League.
- Also Read: This Analyst Explains Why He Sees Amazon's Cloud Unit Reaching A Valuation Of $3T, Netflix Rival Adds Live Sports To Its Streaming Bouquet
- The value of the three-year contract may jump by 20% year on year reaching €1.7 billion.
- The move reflects Amazon's readiness to bid for some of the most expensive sports rights to boost demand for its Prime Video platform, having pulled out of the race to stream Indian Premier League cricket matches.
- Amazon Prime already broadcasts live matches from the English Premier League and secured broadcast rights to most of France's most significant football competitions in 2021.
- For UEFA, the deal will boost its recently-expanded Champions League.
- A rival breakaway Super League backed by some of Europe's biggest football teams had threatened the Champions League in 2021.
- UEFA subsequently revamped the Champions League by increasing the number of teams and matches after the Super League fell due to severe backlash from fans and politicians.
- Amazon continues to diversify its revenue stream to beat the slowing e-commerce sales.
- Price Action: AMZN shares traded lower by 2.02% at $106.72 on the last check Thursday.
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