Riyadh – Mubasher: Saudi Telecom Company (STC) has signed a ten-year agreement with the General Sport Authority (GSA) and the Saudi Arabian Football Federation (SAFF) at a value of SAR 660 million for tv, digital broadcasting, and marketing sponsorship.

The deal, that will be self-funded from STC’s resources, comes into effect as of the new season 2018/2019, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

State-run Saudi Telecom further noted that the contract’s financial impact will appear on long-term as it can not be currently specified.

The agreement includes broadcasting matches of the Saudi Professional League (SPL), cup competitions, and the Saudi National Team's matches that will be organised by the SAFF.

STC will launch channels under the name 'Dawri Plus Channels' in an effort to broadcast matches through free and paid digital and traditional channels.

The initial broadcasting of Dawri Plus will start on 18 August with super cup match between Alhilal with Alitihad clubs, while the match will be played in London.

On Tuesday, SAFF’s general assembly announced ending its agreement with MBC Group and approved a new contract with STC.

 STC last reported a 3.7% profit increase to SAR 2.44 billion in the second quarter of 2018, compared to SAR 2.36 billion during Q2-17.

STC’s profits also levelled up 2.9% to SAR 5.03 billion during the period between January and June, from SAR 4.89 in H1-17.

By 11:45 am Saudi time, STC’s stock fell 0.35% to SAR 85.70.