If there’s one business I’d want to be in right now, it’s sports television.
Over the last few years, as leagues and conferences have renewed television contracts, the dollar amounts have exploded exponentially. Sports of any kind are seeing their rights fees shoot through the roof.
The NBA is no different. It’s been reported that a new deal will be announced tomorrow with current partners ESPN and Turner. And Richard Sandomir of the New York Times pegs the contract at 24 BILLION dollars over 9 years, nearly triple the amount of the NBA’s current deals….
Even in a world where doubling of rights fees seems routine, this kind of money is almost otherworldly. We’ll see what happens when the details are announced tomorrow, but this is a monstrous deal for both ESPN/Turner and the NBA. The Association has a pretty good arrangement right now with two dedicated television partners. But the fact they got so much money will lead to a ripple effect throughout the league and throughout the industry.
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