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 New England through 2038.
Celtics TV Deal Could Double Annual Take, Stake In Network Could Exist Outside Of Revenue Sharing
The Sports Business Journal had reported that in the deal the Celtics would also grab a 20 percent stake in CSN NE, which would add some additional income and valuable equity for the Celtics and would bolster Comcast’s security in the Northeast by keeping the Celtics from starting their own regional sports network.
But Ozanian points out another convenient wrinkle for Wyc Grousbeck and the Celtics.
Read Article >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.
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