Good morning. This week is about screens, and who gets to be on them. Real Madrid went missing from both of La Liga's main TV routes into China. India's kabaddi league can't find a broadcaster at the price it wants. And Puma's shares jumped as its new Chinese owner moved in. Sport runs on being seen. This week, being seen got expensive.
The Big Story
Nine Out of Ten Isn't Bad, Unless You're Real Madrid

Here is the new bit. Last weekend, Migu, La Liga's streaming partner in mainland China, showed nine of the ten matches in the round. The one it did not show was Real Madrid's 3-0 win at Racing Santander on Sunday, Iusport reports. On Monday, the game was still missing from Migu's results and replays. CCTV, China's state broadcaster, did not show it either, Plataforma reports.
So for the first time in this dispute, Real Madrid's match was missing from both of La Liga's main routes into China.
How We Got Here
The row began with a video clip in which Kylian Mbappé talked about a meme that appeared to put his face on an image of Mao Zedong. Reuters said it could not authenticate the video.
China Media Group (CMG), which runs CCTV, then suspended La Liga matches and Mbappé's adverts from Monday 26 October. It said apologies from Mbappé, Real Madrid and La Liga were "an absolute prerequisite" for moving on, AFP reported via Al Jazeera.
All three apologised. Mbappé called his comment "ill-judged" and said……..
"I apologise to everyone my words have upset." Real Madrid said in an on 28 October that it wished "to express its apologies to the Chinese people". La Liga said it "deeply" regretted the comments, according to Al Jazeera
CCTV's sports website later said CMG had acknowledged the apologies.
Then the weekend came and the screens stayed dark. None of the round's matches had been shown live on CCTV's two sports channels by Monday, Al Jazeera reported. CMG has not said when La Liga will return, according to Plataforma. Real Madrid's coach José Mourinho said on Saturday the club had "done our part", Reuters reported.
Two Screens, Two Different Rules
Think of it as a shop with two doors. The big front door, CCTV, is shut for the whole of La Liga. The side door, Migu, opened for nine matches last weekend and stayed shut for Real Madrid's.
That difference is the story. CCTV's suspension covers the league. Migu, on one weekend's evidence, left out only Real Madrid's match.
Migu is owned by state-owned China Mobile. It signed a deal in August to show all 380 La Liga matches a season in mainland China until 2030, Mundo Deportivo and EFE report. Nobody has said what it is worth. EFE had already spotted on 30 October that the Real Madrid game had been taken off Migu's schedule while the other nine stayed on. Sunday confirmed it.
Neither Migu nor La Liga has commented on why, Iusport reports. So we do not know whether Migu chose this itself or followed guidance.
Who Is Paying, and Who Is Losing
What is confirmed is about Mbappé personally. Mengniu Dairy, Shanghai Milkground and the energy drink maker Eastroc Beverage all ended their cooperation with him, Reuters reported. They said they "firmly oppose and have zero tolerance for any words or actions that hurt the feelings of the Chinese people." None of the deal values were disclosed. These were his own deals, not Real Madrid's or La Liga's.
What is not confirmed is any loss for the club, the league or the broadcasters. Mundo Deportivo makes the point that taking a match off a schedule is not the same as ending a rights deal. Any effect on payments would depend on contract terms nobody has published.
A reasonable implication is that Real Madrid's own sponsors get less exposure in mainland China for as long as the club's games stay off air. No sponsor has said so.
What Nobody Is Saying
Analysis, and our view. La Liga's pitch to Migu was every match, every week, until 2030. The match it could not deliver was the one with the biggest club and the most famous player. A full set of 380 is a strong sales line. A set of 380 minus Real Madrid is a different product.
The comparison everyone reaches for is the NBA, which lost about US$200m in 2019 after its own dispute with Chinese broadcasters. Different league, different contracts. It tells you how long these things can last, not what this one will cost.
Our View
The apologies were the easy part. The hard part is that La Liga's China plan rests on two partners, and this weekend they behaved differently. The longer Real Madrid stays off Migu, the more La Liga has to explain what "all 380 matches" actually means. It is still a full set, just with the most valuable piece missing.
“A deal is only as good as the bit nobody wrote down. La Liga sold China every match. This week we found out the price of the match that went missing, and nobody will tell us what it is."
Quick Hits
Kabaddi's TV Deal Ran Out, So the Season Did Too
India's Pro Kabaddi League will not play in 2026, Khel Now reported on Sunday, quoting an unnamed source who said the current broadcaster had offered "half of the previous deal". The league is likely back in June to July 2027, the site says. In 2021, Star won the rights for ₹905 crore (about US$121m at April 2021 rates) as the only bidder, the Economic Times reported. No official statement yet. Turns out the hardest tackle in kabaddi happens in the rights meeting.
A$10.2m Says the Melbourne Cup Still Works
The Melbourne Cup runs today with an A$10.2m prize pot (about US$6.7m), up from A$10m last year, Nine reports. The winner takes A$4.5m. The owners keep 85%, the trainer 10% and the jockey 5%, which is A$225,000. The jockey's riding fee is about A$258.50, which feels like a tip.
Japan's Women's Basketball Gets a Proper Box Office
AXS Japan will run ticketing for the Toyota Motor Antelopes, its first deal with a team in Japan's women's professional W League, AXS announced on 1 November. The team's new official ticket page becomes the main channel for home games this season, with mobile tickets. No fee was disclosed. Small deal, but women's leagues tend to get serious about money the moment someone sells their tickets properly.
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The Index, One Mover
Puma $PUMSY ( ▼ 2.69% ) Jumps With a New Chinese Owner
Price: €27.06 | Week: +6.2% | YTD: +21.3%
Puma makes football boots, running shoes and kit for teams and athletes around the world. In October, China's Anta Sports finished buying about 29% of Puma for €1.5bn, which makes Anta its biggest shareholder. On Friday, Puma said its third quarter sales fell 5% to €1.77bn (about US$1.98bn). That still beat the €1.75bn analysts expected. It also cut the stock sitting in its warehouses by 24.3%, and the shares rose about 8% that morning. Chief executive Arthur Hoeld said Puma had "reached out to Anta as our partner to define our future operating model in China".
For information only. Not investment advice.
One to Watch
Venus Williams at the Hong Kong Tennis Open

Final on Sunday 8 November
Venus Williams, 46, lost in the first round of the singles at Victoria Park on Monday, 6-2, 6-3 to Mary Stoiana. It was her 17th singles defeat in a row. She is still in the doubles with China's Xu Yifan. The whole tournament is played for US$283,347 in prize money, according to the WTA. This is her 14th singles wildcard of 2026, and the TV pictures a Williams brings to a small event.
On the Show 🎙️
The next Sports Edge Show is with a British Airways pilot who summited Everest this spring. Not cricket, but a masterclass in go or no-go decisions, which some rights holders could use.
See you tomorrow for Who’s Overpaying



