What if Elite offer £100m+ and SD don’t match it.contract is more devious than that I'm afraid.
SDI match only the material terms, which have a specific meaning under the contract. As long as they do that they get the renewal, and the other terms stay the same (including the matching clause going forward.)
If we got a ridiculous offer that they wouldn't match though, that would break the chain, and we would be rid of them.
So, they get the second contract for a £1.
Third contract “normalises” the business.