The Seven Network has announced it will off-shoot part of it’s Olympic coverage to SBS TV.

Seven will sell complimentary footage to the multicultural broadcaster for a reported $5 million. Games set to air on SBS include soccer, basketball, hockey, water polo and handball.

The deal is a huge blow to Foxtel, which had previously shared a similar deal with Seven during the 2000 Sydney Olympics.

Seven will supply SBS with the content, but both networks will sell their own sponsorship and advertising packages.

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