Soccer club Panathinaikos has rejected a 5.7-million-euro offer by subscription-based broadcaster Nova to sell its TV rights for the next season of the Greek Super League.
In a statement on Thursday, the Athens club said that the offer was almost half that made to archrival Olympiakos (€11 million) and lower than that made to AEK, which is €6.5 million.
“The proposal was rejected as inadvisable,” Panathinaikos said in a statement.
The club said it would proceed with plans to create its own Web TV channel, Panathinaikos TV. The plans have long been ready, in case the Nova deal fell through.
On Saturday, Panathinaikos TV (accessible on paotv.gr) will broadcast a friendly game as a pilot program. When the season starts, the channel will be viewable only by subscription (monthly, quarterly, or annual) or as pay-per-view. Subscription and pay-per-view prices have not been announced yet. Tomorrow’s broadcast will be free to view.
Panathinaikos’ matches will also be broadcast on subscription channel Cosmote Sports 1, with Panathinaikos earning an as-yet-undisclosed sum.