In a decisive and strongly worded open letter, Portuguese football powerhouse SL Benfica has called for the immediate suspension of the ongoing process to centralize domestic television rights across the Primeira Liga. The Lisbon club’s leadership argues that the model is not only delayed but also outdated and fundamentally flawed in its strategic direction.
Addressed to Reinaldo Teixeira, President of the Portuguese Professional Football League (LPFP), Benfica President Rui Costa outlined a comprehensive critique of the centralized rights strategy, originally set to be implemented in 2028.
Benfica Steps Away From Governance Body
Significantly, Benfica has suspended its involvement with Liga Centralização, the entity formed in 2021 to coordinate the unification of broadcast rights, citing an alarming lack of progress. The club, which currently retains its broadcast independence through its proprietary Benfica TV, insists that the central body has failed to deliver on promises of increased competitiveness, revenue parity, and long-term sustainability for Portuguese football.
Rui Costa stated:
“The current centralization process is delayed, at risk of failing to achieve its objectives, and already outdated in the international context. The impact that football has as a structuring sector of the Portuguese economy requires a clear strategic vision and responsible management.”
Concerns Over Financial Viability and Market Reality
A key tension point is the league’s stated ambition to generate €300 million per season through centralized rights—a figure that Benfica believes lacks real market grounding. The current collective valuation of Portuguese broadcast rights sits at approximately €180 million annually, and Benfica warns that even the most optimistic estimates fall short, potentially sinking as low as €150–€200 million.
This, they argue, would result in a significant net loss across the ecosystem and undermine the very goals of competitiveness and financial fairness the centralization model claims to champion.
The club’s current deal with NOS, which allows it to self-broadcast and monetize via Benfica TV, runs through the 2025-26 season and is reportedly worth up to €400 million over 10 years—making Benfica’s standalone model one of the most valuable in Portugal.
Calls for Reform and Transparency
Benfica is calling for urgent discussions with government bodies, regulators, and stakeholders to develop a more equitable model that considers sporting merit, media presence, and audience viewership. The club has also demanded clarity on content distribution, anti-piracy efforts, and competition among broadcast operators.
“In its current form, centralization risks reducing club revenues, weakening broadcast competition, and failing to incentivize investment in infrastructure or youth development,” Costa argued.
Benfica’s position underscores a broader resistance among top-tier clubs to sacrifice independence for a model they feel may disproportionately benefit the bottom tier of the league without a strategic framework that supports long-term growth.
Redefining the Centralization Playbook
From a consulting standpoint, this moment in Portuguese football is more than a media rights debate—it’s a litmus test for football’s future revenue models in mid-tier European leagues.
To succeed, centralization must be built on five non-negotiable pillars:
- Realistic Market Sizing: Projections must be grounded in verifiable data and broadcaster appetite.
- Equitable Distribution Models: Revenue-sharing needs to reward both performance and legacy value.
- Hybrid Rights Frameworks: Allow top clubs autonomy over secondary and digital rights while centralizing only marquee fixtures.
- Transparent Governance: Clubs need a seat at the decision-making table with clear access to financial modeling.
- Anti-Piracy & Platform Innovation: The value of rights is only as strong as the protection and delivery system supporting them.
The Portuguese league has a rare chance to leapfrog into the future—but only if it embraces bold structural reform and consultative governance with its biggest stakeholders.
IMAGE: EPA-EFE
