Major Vietnamese TV stations have reached a pact on how much they are willing to pay for English Premier League football coverage for the 2016-2019 seasons.

Major Vietnamese TV stations reached a pact on
Premier League broadcast rights cost

The stations seem determined to set a 20% price cap on any increase.

MP&Silva, a London-based sports media company, won distribution rights to the Premier League for the 2016-2019 seasons for 28 countries in East and Southeast Asia.

K+ paid USD19 million to buy the broadcasting rights for the 2010 to 2013 season. For seasons 2013-2016, K+ bought the exclusive rights for Sunday matches from IMG for USD33.5m. VTVCab and SCTV also bought the rights for several matches at the prices of USD2m and USD2.1m respectively.

The broadcasting rights for 2016-2019 seasons are currently being auctioned. However, many predicted that the price to purchase the rights could reach USD100 million.

The Vietnam Association of Pay TV on November 12 proposed the local TV stations should not buy the rights for the coming period if the price is more than 20% higher than the last time. Moreover, which station managed to obtain the rights can share with the others at cheaper prices.

10 major TV stations including VTV, VTC and K+ had agreed on the position.

In early November, the Ministry of Communications and Information had to step into the bidding process after concerns were raised about escalating costs.

All negotiations and the auction for the broadcasting rights will concluded in May, 2016