Saudi Telecom Company (STC) [7010.SE] announced the signing of an MoU with the Saudi Arabian Football Federation and the General Sports Authority to obtain the exclusive broadcast rights in all its technologies (including space, land and digital) for local Saudi Arabian football competitions, according to Mubasher. The contract period is 10 years, and STC will pay SAR660mn annually (total value of SAR6.6bn). The period of the MoU will be two months, during which the parties will discuss and agree on the terms and conditions of the contract. The memorandum grants STC the rights of the marketing and main sponsorship of the Saudi Professional League, the Saudi Arabian Football Federation, the Referee Committee in the Saudi Arabian professional league matches and the Saudi Arabian Federation matches. The memorandum of understanding also covers the technical sponsorship for the events of the General Sports Authority. 

Saudi Telecom Company: SAR73.49 as of 5 Feb. 2018, Rating: Neutral, TP: SAR68.30/share, MCap: USD39,195mn, STC AB/7010.SE