November 24 – The Asian Football Confederation (AFC) has today officially signed $100 billion (£604 million) deal with World Sport Group (WSG), extending a partnership that stretches back to 1993 and emphasises the sport’s growing value in the area, the world’s largest and most populous continent.
The deal, which dwarfs the total revenue earned by AFC between 1992 and 2008, gives Singapore-based sports marketing, event management and media group WSG rights to Asian events up until 2020.
Mohamed Bin Hammam the President of the AFC, was understandably pleased with the deal.
He said: ”What has been achieved for this contract is quite tremendous.
“From 1992 to 2008 our total revenue from rights was $150m (£90 million) - for everything.
“Now we talk about eight years with $1 billion and this figure will go up, we are sure.”
Bin Hammam credited WSG with spotting the potential in Asian football, with them having been commercial partners for 16 years.
He said: ”It is AFC’s pleasure to renew our tight relationship with WSG, who were the first ones to recognise the incredible potential of the Asian game.
“They came to support us when our revenues [from rights] were close to zero.
“We had difficult times where our competitions were worth nothing … people wanted to pay nothing.”
The agreement is expected to deliver “at least” $1 billion in revenues to the AFC over the contractual period, WSG said.
Seamus O’Brien, the chairman of WSG, said: ”This is a landmark deal and shows what Asian football is capable of achieving.
“In 1993, we made a commitment together with the AFC to take Asian football to the world.
“Today, in just over a decade and a half, the value of Asian football has grown 10-fold and it has earned its rightful place on the international stage.
“Its events are being watched and followed throughout the world, not just in Asia, by billions of passionate fans and viewers.”
This deal with the AFC comes a week after WSG partnered with the fledgling OneAsia golf tour.
Financial details of that deal were not made public, but under that multi-year, multi-million dollar agreement WSG are responsible for marketing and managing sponsorships and licensing arrangements for the golf tour.
WSG also manages global cricket icon Sachin Tendulkar and has formed a partnership with the Board of Control for Cricket in India (BCCI) for the ground and title naming rights for the Indian national team’s domestic matches.
Additionally, in partnership with Sony Corporation, WSG was awarded the global media rights for the Indian Premier League (IPL), the Twenty20 cricket competition that analysts foresee will change the face of the sport forever.
