Most of the times this tournament is like a liability. There's heaven and hell difference between the european champions and the other teams. Teams participate in it out of compulsion.
Quality of football is poor, so is the excitement and viewership because everyone knows who will win it even before the tournament starts.
When Neo didn't bother to invest in a HD feed after acquiring the rights of a major events like French Open & UEFA Euro 3 years back, no way they will do anything now...
Like the tournament, the awarding the rights for this tournament seems like getting rid of a liability as other channels are way too caught up with their own projects and know they won't be able to generate much ad revenue from it..