Aug 28, 2012, 9:33 AM EDT
We talked about lucrative local TV rights yesterday. Let’s talk national: ESPN just agreed to pay Major League Baseball nearly double what it’s paying now to keep baseball rights through 2021:
ESPN has agreed to a deal that locks down MLB rights into the next decade, according to several sources. The eight-year deal is worth $5.6B (an average of $700M per year), approximately doubling the nearly $306M ESPN currently pays MLB every year for domestic TV rights.
That includes digital, radio and, for the first time, the playoffs: one wild card game. Otherwise the deal is basically the same: Sunday Night Baseball and Monday and Wednesday night games.
The current deals with ESPN, Fox and TBS are in place through the end of the 2013 season. As the New York Times reported in July, there is a frenzy afoot, with those three outlets still wanting to keep their games, plus NBC wanting to get in on the action. Clearly those remaining will be in frenzied bidding for the Saturday and Sunday afternoon games, the postseason and any other national products that may be added over and above what exists now.
That’s a recipe for skyrocketing rights fees. And we just saw the first rocket launched.
UPDATE: Putting this money in perspective. Short version: windfall.
- Must-click link: Tommy Harper and the Red Sox’ racist past 48
- Settling the Score: Saturday’s results 33
- Matt Garza ejected after hitting Andrew McCutchen a second time 34
- Tigers hang on for second straight win against Royals 8
- Phil Hughes could finish the season with the best K/BB ratio in MLB history 14
- Settling the Score: Friday’s results 26
- Clayton Kershaw wins his 20th game of the season 13
- Why are so many people acting like Bryce Harper is a bum? 81
- Geddy Lee’s baseball obsession makes it really hard for me to hate Rush (120)
- It certainly looks like Barry Bonds’ criminal conviction is going to be overturned (105)
- Ron Washington claims he resigned because he cheated on his wife (103)
- Umpire ejects jackwagon fan heckling Bryce Harper in Atlanta last night (85)
- And That Happened: Tuesday’s scores and highlights (83)