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Closing Bell

Pete Bevacqua Explains Why NBC Did Not Bid For UEFA

NBC Sports Group President Pete Bevacqua said that his network did not bid for the U.S. rights to the UEFA Champions League during the most recent round of talks. During the opening interview on Day 1 of the Endeavor Streaming Sports Media & Technology conference, Bevacqua noted the net “thought long and hard about it,” but ultimately decided not to bid for the package, which will go from '21-24. “Ultimately, based on what we thought it may go for, which has now been proven to be correct, we took a pass on it,” Bevacqua said.

Bevacqua added that he was surprised to see the rights acquired by CBS and Univision, which will be paying $150M annually over the three-year deal. “Good for them, I think it’s a smart play,” he said. “That’s not who I thought would get it. I think the world of David Berson and Sean McManus. I called David to congratulate him, and he was excited about it.”

NBC’s decision on the UCL reflected Bevacqua’s broader emphasis on restraint. “It goes back to that strategic plan,” Bevacqua said. “It goes back to showing some discipline to say we’re not going to bid on everything. Not that the Champions League price is of the magnitude of the NFL, but with these rights deals, what I’ve said internally is, ‘We can’t have a machine-gun approach. We can’t go out there hog wild for everything that comes across our desk.’”

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