US hedge fund representatives flew to Australia this week for talks with Nine management, ahead of the network’s plans to float on the ASX within the next 18 months. Both cricket and NRL are integral to plans for a successful float.
But Nine will need to match TEN’s audacious bid of $500m, if it is to secure the five-year deal. The deadline for its offer is 5pm Monday.
The Daily Telegraph reports none of the parties was prepared to comment.
TEN is still expected to secure the Big Bash League at a price of $100 million, but it will be comforted in the knowledge it has pushed Nine’s price to the brink.
Both networks are expected to see the events run at a loss, but provide valuable platforms to drive their other content.