The NBA is reportedly looking for a new media rights deal that would pay them three times as much as they are making in their current deals with ESPN and Turner Sports.
The NBA has one of the most valuable pieces of yearly content in the sports and entertainment business. While it may not get the sort of ratings that the NFL pulls in, it is still one of the premiere sports leagues in the biggest media market on the planet.
Related: Next NBA TV rights bid could involve NBC, Amazon, and Apple
That is why when their current TV and media rights deals end after the 2024-2025 season, there are going to be many suitors for their content. More than when they agreed to their ongoing contracts in 2014. Streaming is bigger than ever and digital giants like Amazon and Google are now major players in the market and will likely be involved in the chase for NBA content.
With major networks and streamers expected to battle it out for the rights to the league’s television content in the near future, it seems the NBA is hoping to take advantage of that bidding war in a major way.
On Wednesday, Sports Business Journal cited sources in a report that claims the NBA will be looking for a new TV rights deal that is three times more than their current package. Their current deals with ESPN and Turner will reportedly pay the league $24 billion over the life of the 10-year pact. That means the NBA is looking for a rights package for over $70 billion.
“The NBA has ‘high hopes for squeezing far more money out of media outlets in negotiations for future TV broadcast rights,’ in part because tech giants including Amazon and Google have ‘told the league of their interest in streaming the games.'”
– Sports Business Journal report
ESPN and Warner Bros./Discovery — the owners of Turner Sports — are reportedly struggling with debt as cord-cutting continues throughout the country. Various sports and television execs are also said to believe the NBA’s asking price may be unrealistic.
However, the outlet reported that an NBA source said the league feels “confident it can get a good deal” since they believe the league “draws a younger, more diverse audience spread out across 260 nights per year.”