ARE Arena Events Group Plc

RNS Number:2901R
Arena Leisure PLC
21 September 2000


Enquiries:     David Bick
               Holborn Public Relations                     020 7929 5599
               david.bick@holbornpr.co.uk
                      

ARENA LEISURE plc

Media rights offer to UK racecourses extended to include terrestrial
television

On 31 July 2000, Arena Leisure plc ('Arena') made an offer to the UK's 59
racecourses for a 10 year worldwide, exclusive licence to their interactive
media rights.  Following extensive negotiations with the Racecourse
Association ('RCA'), the representative body for the UK's 59 racecourses,
Arena has now revised its offer.

Arena's offer has now been extended to cover terrestrial broadcasting rights
of all UK racecourses.  The offer guarantees UK racing a total of #320 million
over 10 years and is for a worldwide exclusive licence.  The offer in relation
to interactive rights has been increased to #180 million (previously #178
million) and the offer in respect of terrestrial rights is #140 million.  The
annual guaranteed amounts increase over the course of the ten year period as
the anticipated revenues grow but will not total less than #320 million.  The
offer does not cover the right to transmit pictures for reception in UK
licensed betting offices.

The UK's 59 racecourses have been requested to respond to this revised offer
by 10 October 2000.  If an agreed level of interest is shown, Arena will be
granted a period of exclusivity from those courses which have expressed a
desire to pursue Arena's offer.  During this period Arena and the RCA (acting
on behalf of the race courses) will negotiate definitive contractual
documentation.  In addition, Arena will require to undertake a substantial
equity fund raising to cover the start-up and initial investment costs of the
project.

Arena's offer remains subject to contract and shareholder approval.

Commenting on the offer, Martin Pope, Chairman of Arena said:

"Over the last few months we have had a very constructive dialogue with the
RCA.  We feel confident that this revised offer, combined with our strategic
vision for developing the media rights, will provide a secure, exciting and
profitable future for British racing."

Arena Events (LSE:ARE)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

Arena Events (LSE:ARE)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024