Premier League opens television bidding

Invitation to tenders (ITT) for the English Premier League television coverage are set to be mailed out to broadcasters who may be interested in bidding in the earlier months of 2009, PA Sports reports.

The timing was decided on Thursday's Premier League meeting, attended by 20 club chairmen and chief executives. The chairmen are eager to know what finances will be available in the future. It is hoped that the rights will increase in value as a result of the competitiveness between broadcasters Setanta, who hold two packages from the last auction, and Sky, who hold four packages.

The current contract with Sky and Setanta covers the years 2007-2010, and is worth GBP 1.7 billion. Overseas and new media rights total GBP 500 million.

The rights to live packages must be split, as the agreement with the European Commission prohibits the Premier League from selling of all of these rights to a single broadcaster. The regulation will be upheld until 2013.

A future meeting agenda may include the financial distribution of this revenue between clubs.