Tapcorp has been permitted by Victoria Racing Club to call for bids from Australia’s commercial television networks for free-to-air broadcasting rights to the Melbourne Cup.
The broadcasting rights are currently owned by Network Ten, whose contract expires in 2023.
But according to The Australian, Nine Entertainment Co is believed to be preparing a bid and its possible that it will include in its offer the streaming service Stan.
There is also competition from Greek gaming company Intralot for the rights, which are said to be worth between $600 million to $900 million.
Despite the fact that federal government’s anti-siphoning protections require the Melbourne Cup to be offered to free-to-air networks, Tabcorp has told the commercial broadcasters it wants to strike an agreement for all four days of the racing carnival for six years from the spring of 2024.
The potential deal would mean a wagering business owns all the rights to the biggest horse race in the country for the first time.
Source: The Australian