Seven, Ten race for spring carnival racing TV deal

Victorian racing authorities are on the verge of rejecting a rights bid from Ten to extend a Seven contract for the spring carnival.

Racing has continued amid the coronavirus shutdowns Picture Jay Town

Victorian horse racing authorities are on the verge of rejecting a more lucrative broadcast rights bid from Network Ten to extend a contract with Seven West Media for prestigious races such as the Cox Plate and Caulfield Cup.

A battle over the rights to the famous Spring Racing Carnival is causing ructions among Victorian officials, who have urged governing body Racing Victoria to entertain a bid from Ten.

Complicating the matter is that Racing Victoria is also working on the commercial terms of its joint venture arrangement with Seven for Racing.com, the free-to-air network owned by several Victorian racing bodies.

With big sports such as the AFL and NRL in hiatus due to the COVID-19 shutdown, racing has managed to continue daily meetings throughout the country, and Seven has moved Saturday meets from Victoria, NSW and Queensland — all governed by separate state-based bodies — in recent weeks to its main ­channel.

The move is said to have been positive for racing, given it has generated more wagering on the sport thanks to higher exposure on television, some of the proceeds of which flow to racing via bookmakers. The telecast has also achieved impressive ratings gains for Seven.

But some Victorian racing figures have still been keen for Racing Victoria to at least entertain a bid from Ten for spring carnival races in order to increase their value in a competitive bidding process.

A package of rights held by Seven for about 21 “premium” Saturday meetings in Victoria, including famous spring races such as the Cox Plate and ­Caulfield Cup, is set to expire on June 30.

Sources have told The Australian that Ten had made preliminary inquiries about lodging a bid for the package potentially worth about $4m-$5m annually, or up to $25m over five years.

Ten was keen on the rights given it would add to the Melbourne Cup carnival it audaciously snatched from Seven in a five-year, $100m deal clinched with the Victorian Racing Club, which sells its rights separately to the rest of the Victorian racing season.

Racing Victoria, charged with the responsibility of clinching a deal for the rights, is instead said to have made it clear it wished to renew its deal with Seven.

In a statement to The Australian, a Racing Victoria spokesman said: “A number of our media rights agreements conclude this year and thus we are in commercial-in-confidence discussions about future agreements. We are the only sport with a dedicated 24/7 free-to-air channel and our focus continues to be on maximising the audience for Victorian racing.”

Last year’s Melbourne Cup Carnival was the first for Ten, with fans tuning into the remainder of the spring carnival — and Sydney races — on Seven. That situation even saw racing from Sydney outrate Ten’s coverage of the Victoria Derby meet from Flemington on the Saturday before the Melbourne Cup — one of four days to which Ten holds rights across one week.

Racing figures in Victoria have conceded Seven’s audience reach is wider than Ten’s and that racing has a relationship with the network via Racing.com, but have at least wanted Racing Victoria to consider rival bids.

Racing.com, which shows all Victorian races including midweek and country events, has been hailed as a success by many in Victoria given the increase in wagering the state has enjoyed since it was established in 2015.

But the commercial arrangement, which at least to start with saw the racing bodies pay Seven to establish and run, is also being renegotiated. Racing.com is also showing South Australian races until 2024 and has expressed interest in a package of Queensland rights, which are also available.

Spokespeople for Ten and Seven declined to comment.