AFC signs 1 Billion Dollar Deal

Asian soccer chief Mohamed Bin Hammam signed a $1 billion dollar rights deal with World Sports Group on Tuesday.The deal gives Singapore-based sports marketing, event management and media group WSG rights to Asian Football Confederation (AFC) events up until 2020."Asian football is scaling new heights," Hammam told reporters in the Malaysian capital."

It is AFC's pleasure to renew our tight relationship with WSG, who were the first ones to recognise the incredible potential of the Asian game." WSG have been commercial partners of the AFC since 1993."They came to support us when our revenues (from rights) were close to zero. We had difficult times where our competitions were worth nothing ... people wanted to pay nothing."

The agreement is expected to deliver "at least" $1bn in revenues to the AFC over the contractual period, WSG said."This is a landmark deal and shows what Asian football is capable of achieving."WSG Chairman Seamus O'Brien, said: "In 1993, we made a commitment together with the AFC to take Asian football to the world."

Today, in just over a decade and a half, the value of Asian football has grown 10-fold and it has earned its rightful place on the international stage."Its events are being watched and followed throughout the world, not just in Asia, by billions of passionate fans and viewers."Financial details of that deal were not made public, but under that multi-year, multi-million dollar agreement WSG are responsible for marketing and managing sponsorships and licensing arrangements for the golf tour. - AFP