The National Football League and television networks CBS, NBC and FOX are close to renewing broadcasting rights deals, Daniel Kaplan and John Ourand of the SportsBusiness Journal report.
The current deals expire after the 2013 season and the extensions would be for another season eight years, expiring after the 2021 season. The league’s current collective bargaining agreement expires after the 2020 season.
According to the report, the renewed contracts will increase rights fees by over 60 percent, with each network paying at least $1 billion annually for the right to broadcast NFL games. With ESPN paying nearly $2 billion for Monday Night Football, money from DirecTV’s “Sunday Ticket”, the league’s planned Thursday night package and radio and mobile deals, SBJ projects annual media revenue for the league to reach around $7 billion per year in 2014 and beyond.
For much more on the media deals from the SportsBusiness Journal, click here.