Paramount is set to secure the bulk of Champions League broadcast rights in the United Kingdom and the Republic of Ireland from 2027 to 2031.
Sources familiar with the tender process say the media group emerged as the preferred bidder after a competitive auction launched by UC3, the joint venture between UEFA and European football clubs.
The proposed deal will cover every match, except the first pick on Tuesday nights, which Amazon Prime Video is expected to retain in the UK and Ireland.
The agreement is close to being finalised, and an official announcement is anticipated once contractual details are completed.
The scale of Paramount’s bid is understood to be considerably higher than the current package held by TNT Sports, which pays about £1 billion under the existing cycle.
Industry figures view the result as a strong outcome for UC3 and for Relevent Football Partners, the American agency overseeing UEFA’s media sales for the first time.
The tender marks a strategic shift by UEFA, which redesigned the process to entice major global streaming platforms into bidding.
The governing body wants to push annual media revenues from its club competitions beyond €5bn across Europe’s big five markets.
Paramount’s push into Europe reflects the company’s ambition to expand its live sports portfolio beyond the United States, where it already holds Champions League rights through Paramount+.
The company is also in contention for rights in Germany, while Canal+ has secured the complete package in France. The auction in Spain is ongoing, with Movistar and Paramount both active.
Amazon’s first-pick arrangement will remain in place from 2027 in the UK, Germany and Italy, although limits will apply to how often it can show any one club.
Netflix and Disney+ were involved in the early stages but did not match Amazon’s bid.
UEFA is expected to view the forthcoming broadcast deals as vindication for its remodelled Champions League format, which will introduce an expanded league stage and a single 36-team table from 2027.
The final contracts are expected to be signed once the tender process concludes across all markets.
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