The rich keep getting richer and richer.
MLB, ESPN Sign New 8-Year Deal
ESPN has been carrying Major League Baseball for more than two decades. That relationship has been extended for another eight years.
Recently, I wrote here about the Los Angeles Dodgers working on new local TV deals that could be worth as much as $8 billion over a 20-year period, a possible average of $400 million per season.
Tuesday, it was revealed that one of Major League Baseball’s national TV partners, ESPN, is re-upping with the league in a deal that could be worth $700 million per year:
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.The deal also includes radio rights that could be worth $50 million; ESPN would continue its Sunday Night Baseball franchise, do other games during the week, and carry one wild-card game. This also will not surprise you:
And, as Maury Brown notes, there’s more money to come from other TV partners:
Before any expenses, as part of new ESPN deal w/MLB, ea club gets approx. $23.33M a yr. up from $10.2M. And think: FOX, TBS still to renew
— Maury Brown (@BizballMaury) August 28, 2012
The rich, as noted, keep getting richer. Much richer.
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