Premier League bosses have been left with a financial black hole of around £564m after ending their broadcasting deal with PPTV.
The Premier League's decision to terminate the agreement with its Chinese rights holders follows a legal battle over a withheld payment of £160m before Covid-19 forced football into lockdown in March.
It was claimed last month that rights holders Suning Holdings, who own PPTV, had refused to honour the payment.
The Premier League have now confirmed they have severed all ties with the broadcaster in China and said in a brief statement: "The Premier League confirms that it has today terminated its agreements for Premier League coverage in China with its licensee in that territory. The Premier League will not be commenting further on the matter at this stage."
The broadcasting deal with Suning Holdings was struck in 2019 and was believed to be the Premier League's biggest overseas TV contract.
News that it has been axed could prove to be a huge blow to the finances of all 20 top flight clubs.
Clubs have been hit hard following the financial impact of the on-going pandemic that has left some of them struggling to balance the books.
Financial expert Conrad Wiacek from 'GobalData Sport' said: "This will come as a shock to the Premier League and may suggest that further hard times are on the way.
"With the next Premier League rights cycle due to begin in 2022, the league will be looking at new options in a bid to shore up its international rights portfolio.
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"This could be an issue for the Premier League, who will be keen to ensure that their broadcast rights contracts continue to grow.
"If the growth cannot come from abroad, then the Premier League may be forced to make more live games available domestically, something the government is strongly pushing for."