The Victoria Racing Club (VRC), Channel Nine and Tabcorp have signed a five-year Melbourne Cup broadcasting and wagering deal said to be worth $80 million. In what is described as a milestone for horse racing in Australia, the newly-formed Melbourne Cup alliance is expected to boost sponsorship opportunities significantly, as well as increase the number of domestic and international punters who can watch and wager on the Melbourne Cup Carnival.
Broadening the Media Reach of the Melbourne Cup Carnival
According to reports familiar with the process of negotiations, arranging the deal wasn’t easy, especially after the Seven Network threw a spanner in the works and abandoned the bidding, leaving Channel Nine as the only notable bidder.
Under the deal which is set to expire in 2029, Nine will be the free-to-air broadcaster of the Melbourne Cup Carnival, with rights to stream, broadcast and share content on social media channels.
Tabcorp, on the other hand, will be the exclusive betting partner for Nine’s broadcasts. It will also have the right to distribute wagering coverage to other betting providers.
The role of the Victoria Racing Club is also significant, as it will be involved in production through its VRC Media arm. The VRC will be able to leverage the sponsorship deal to broaden the media reach of the Melbourne Cup, securing the position of the carnival as the highest-profile racing event in Australia.
