Mallesons Stephen Jaques has advised Racing Queensland Limited (RQL) in negotiating a 10-year media rights licensing agreement with Sky Racing.
Under the deal, Sky Racing is granted worldwide broadcasting, internet and new media rights for all TAB thoroughbred horse racing in Queensland for the next decade.
The deal replaces the patchwork of separate agreements which were previously entered into by individual thoroughbred racing clubs and allows the industry to increase its media rights income. The quality of media product will be improved through investment by Sky Racing to upgrade racetrack production services and other enhancements.
The Mallesons team, led by partners Nicole Heller and Sharon Henrick, advised on structuring the deal and the negotiation of licensing rights. The team also assisted in the conduct of a competitive tender process, managed on behalf of RQL by LEK Consultants, and negotiating and finalising the agreement to on-license the clubs' rights to Sky Racing.
"This was a complex deal requiring negotiations with each of the 14 individual Queensland thoroughbred racing clubs to license their rights to RQL and took over a year to put together," said Heller.
Freehils' Sarah Kenny advised Sky racing on certain aspects of the deal, working closely with internal legal counsel Eve McGregor.