Renta 4 | Telefónica (TEF) acquires exclusive rights to the Champions League and Europa League for four seasons.
Telefónica has been awarded exclusive broadcasting rights for the Champions League, Europa League, Youth League and Conference League for the 2027/28, 2028/29, 2029/30 and 2030/31 seasons.
This award is subject to the formalisation of a contract with UEFA, which is expected to be finalised shortly.
The price amounts to €1.464 billion or €366 million per season. This price per season is 14% higher than the €320 million per season signed in the last contract, covering three seasons, until 2026/2027.
Assessment: Positive news, as it renews and strengthens the offering of content that is in high demand by customers, although the price per season is significantly higher than in the previous cycle (2026/27) at a time of high general inflation. P.O. and Recommendation Under Review (Previously €4.50/share and Hold).
