League Triples Its TV Income
The NBA announced Monday that it’s a reached a new nine-year, $24 billion TV deal with ESPN and Turner. That’s an awful lot of money. The new arrangement — effective starting with the 2016-17 season, and running until 2024-25 — is worth nearly triple the amount of the current one. Annual payments to the league will rise from $930 million to $2.66 billion, according to The New York Times.
Alex Kennedy of Basketball Insiders reported last night that he’d “talked to a few young players tonight about NBA's new TV deal. They are understandably ecstatic. Good time to be a young NBA player.”
This lucrative contract means more income for everyone involved—that’s why LeBron James signed his newest deal with the Cleveland Cavaliers for just two years, including a second-year player option. He knew the sport was about to see significantly more TV money, and that it would trickle down to the players soon enough. Barring injuries, it’s safe to expect James to sign for a historically large figure either next summer or in 2016.
“Under the agreements, the partners will televise more national regular-season games (ABC/ESPN: 100; Turner: 64) and will continue to do so generally on Wednesdays (ESPN), Thursdays (TNT), Fridays (ESPN), and Sundays (ABC/ESPN). By the end of these new agreements, the NBA’s partnership will reach 41 years with Turner, while the league’s relationship with ABC/ESPN will extend to 23 years. Additionally, NBA TV’s Sunday, Monday, Tuesday and Saturday game telecasts will continue to fill out the schedule, ensuring a full week of nationally televised games. The NBA’s 24-hour network will present over 100 regular-season games each year.”
— John Wilmes