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.
- And That Happened: Monday’s scores and highlights 35
- VIDEO: Derek Jeter passes Carl Yastrzemski for seventh on all-time hits list 54
- Ray Rice is awful, but let’s not pretend baseball has a great record on domestic violence 90
- And That Happened: Sunday’s scores and highlights 50
- Mariners’ interest in Matt Kemp is “very real” 29
- Astros players upset over Mark Appel’s promotion to Double-A, bullpen session in Houston 45
- Four theories about the Hall of Fame voting changes 24
- Troy Tulowitzki is visiting a sports hernia surgeon 10
- Expert’s Corner: How to troll fans of all 30 teams (201)
- Verducci: baseball should think about an “illegal defense” rule to combat shifts (165)
- Yankees acquire Chase Headley from Padres (108)
- David Ortiz passes Carl Yastrzemski on the all-time home run list — is he a Hall of Famer? (92)
- Ray Rice is awful, but let’s not pretend baseball has a great record on domestic violence (91)