The Boston Celtics are finalizing an extension to the team's local TV contract with Comcast Sports that would keep the franchise's broadcast on CSN Northeast through 2038 and including a "healthy bump" in the team's local TV revenue, reports Sports Business Journal. The Celtics' current contract with CSN runs through 2017, but the Business Journal reports that a new deal will give Celtics' ownership a 20 percent stake in CSN NE and that aforementioned revenue increase.
Celtics To Sign Lucrative Local TV Contract Extension, According To Report
The deal is a reminder that local TV is an increasingly important revenue stream for NBA teams, and one that isn’t shared at all, as is the case in other sports. The Los Angeles Lakers signed a deal this season that reports indicate could be worth $200 million per season. SBJ reports that the Celtics’ current deal with CSN is below market at $15-20 million. A few NBA teams make less than $10 million per season in local TV rights.
Wyc Grousbeck, the face of the franchise’s ownership group, has reportedly been one of the league’s hardliners as the NBA lockout rolls on.
For more on the Celtics’ new deal, visit CelticsBlog and SB Nation Boston.
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