Seven, Foxtel get $4.5bn AFL deal done

Channel 7 and Foxtel have signed a new deal with the AFL that will extend the pair's existing broadcast rights into the 2030s.

The deal, valued at $4.5 billion over seven years, will broadly mirror existing arrangements with Channel 7 earning free-to-air broadcast rights for marquee matches and the Grand Final.

Nine Entertainment and Paramount had attempted to trump the incumbents in recent months but were largely seen as underdogs on account of Foxtel's relationship with the AFL and Channel 7 having held free-to-air rights for most of the modern competition's existence.

Public intrigue in negotiations increased further over the weekend after Kerry Stokes was pictured alongside league boss Gillon McLachlan at the Fremantle Dockers' win over the Western Bulldogs in Saturday's qualifying final.

In a statement released this afternoon, Seven West Media boss James Warburton said securing the comprehensive digital rights package, which extends from 2025 until 2031, had been its absolute focus.

"For the first time, fans will be able to access the best AFL games and video content, live and free, in a way that suits them," he said.

“More importantly, this new combination of broadcast and digital means SWM will be ideally positioned to drive and capture a significant share of the growing total television market."

Under the new deal, Seven is set to fork out an extra 14 per cent on the 2024 rights.

Taking into account indexation over the term, that would represent a 3.6 per cent compound annual growth rate in rights fees.

Shares in Seven West Media were trading at $0.49 each at 4pm AEST.