Star didn't bid for UCL only because it was too arrogant to think that its plate was more than full.FIFA rights only gets the viewers to glue to tv once in 4 years .
This is from a website
Sony renewed its contract with UEFA for the 2018-21 cycle at a lower price due to the lack of interest from other networks. This time around, the renewal of the rights negotiation process with Sony could not yield desired results, as UEFA decided to go to the market and
initiated the tender process. This led to fierce competition between Sony, Viacom 18, Euro Sports (Discovery) and FanCode.