Paramount retains US rights to UEFA Champions League for $1.5bn

News in brief

Paramount, which owns both CBS and Paramount+, has outbid Amazon to retain the UEFA Champions League, according to reports.

The production and distribution company will reportedly pay $1.5bn over six years for the English-language streaming rights (the Spanish rights are still up for grabs).

Paramount still has two years left on its current deal with UEFA, meaning its broadcasting and streaming rights will now extend through 2030.

Paramount reportedly paid more than 2.5x the price of its previous deal, signifying the ongoing inflation of sports media rights costs.