Tabcorp Eyes Melbourne Cup Broadcast Rights with AU$100M Bid
Tabcorp, a leading wagering and entertainment company, has secured the naming rights for the Champion Stakes Day following the Melbourne Cup. The company is also in talks with Victoria Racing Club (VRC) for the broadcast rights of the prestigious event.
Tabcorp is considering a AU$100 million bid for the Melbourne Cup broadcast rights, which would see them return to a role they held from 2020 to 2022. The previous broadcast rights contract expired in 2018 and was a five-year deal. VRC's CEO Steve Rosich has confirmed that discussions about the 2024 broadcast rights are currently confidential.
The Melbourne Cup Carnival is a global spectacle, drawing over 700 million viewers worldwide. Tabcorp's interest in the broadcast rights comes as Foxtel and Seven West Media have officially acquired the rights for the 2024 carnival, with the final decision expected in early 2024. Tabcorp, which currently owns three radio stations and two broadcasting businesses, is positioning itself to potentially challenge this arrangement.
Tabcorp's bid for the Melbourne Cup broadcast rights, if successful, would bring the company back to a prominent role in one of the world's most famous horse racing events. The final outcome of the negotiations is expected to be announced in early 2024.
