The Victoria Racing Club (VRC) has extended its media rights agreement with ThoroughVisioN (TVN) for the next 15 years.
The VRC and TVN announced on Wednesday they had entered into a formal Heads of Agreement under which the VRC would grant TVN all media rights dedicated to wagering and racing until 2026.
The VRC’s chief executive Dale Monteith said the VRC was one of the driving forces in the creation of TVN seven years ago and was determined to work with TVN, starting with the rights extension, to ensure that the racing industry continues to control its media rights.
TVN now holds the media rights from all Victorian thoroughbred clubs on a long-term basis.
“This agreement provides certainty with respect to the provision of Flemington’s coverage for the purposes of wagering, under the soon-to-be-announced new Victorian wagering licence,” Monteith said.
“This long-term contract ensures that racing in Victoria is acknowledged in a financial sense, for the significant value inherent in its racing product.
“We look forward to working with TVN and the other Victorian and Sydney shareholder clubs to maximise the value from our coverage for many years to come.
TVN chief executive Peter Sweeney said the agreement with the VRC was a clear demonstration of the commitment that TVN’s shareholders have to TVN.
“The VRC is renowned worldwide for its racing and event presentation,” Sweeney said.
“TVN is committed to ensuring new levels of presentation that will further enhance their brand and the brand of racing more generally in Australia.
“The underlying purpose of the TVN business is to maximise the value of racing’s media assets. This endorsement by the VRC further strengthens the business.”
AAP TURF
