ITV not prepared to 'pay over the odds' for rights

ITV have said they were not prepared to "pay over the odds" for live Champions League and Europa League television rights.

BT Sport's acquisition ends ITV's 21-year association with the competition regarded as the world's greatest club competition.

ITV have broadcast the Champions League since its launch in 1992. Credit: PA Wire

"ITV is proud to have been the UK free to air broadcaster of the Champions League, since it launched in 1992, and of the Europa League, but we were not prepared to pay over the odds in the latest live rights round," an ITV spokesman said.

"Viewers will be able to continue to watch both competitions free on ITV through to 2015 and we remain the home of live England football."

Read: Sky: BT paid 'far in excess' of our valuation

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BT Sport secure Uefa TV deal

BT Sport has confirmed it has secured exclusive television rights of both the Champions League and the Europa League for three years from 2015, after talks with Uefa.