STC extends MoU on Saudi soccer broadcast deal to August

Saudi Telecom Co. (STC) on Sunday said it has extended the memorandum of understanding (MoU) signed with the General Sports Authority (GSA) and Saudi Football Federation for the third time, the telco said in a statement to Tadawul on Sunday.

The MoU was first extended by one month in April and then by another two months until July.

"The discussion is still ongoing to complete the drafting and review of the agreements. Therefore, the duration of the MoU has been extended for an additional period till Aug.1," it added.

The SAR 6.6 billion ($1.8 billion), 10-year deal was initially signed in February this year, giving STC the exclusive rights to air all local football matches, Custodian of the Two Holy Mosques Cup, Crown Prince’s Cup, Saudi Professional League tournaments, and all the matches of the Saudi national team that fall under the jurisdiction of the Saudi Football Federation.