NBA Signs Enormous Extension With ESPN And Turner
The NBA has extended its television deals with ESPN and TNT, the deal is said to be an estimated $24 billion over nine years. The Annual average value nearly 3x current deal.
The league announced Monday that the new contracts will run through the 2024-25 season. The previous deal ends after the 2015-16 season.
ESPN and ABC are adding 10 regular-season games, bringing their total to 100. TNT will air an additional 12 games over the second half of the season on nights other than its traditional Thursday, bringing its total to 64.
ESPN president John Skipper released a statement on the extension:
"The NBA has never been more popular and it continues to grow under Adam [Silver]'s leadership. By acquiring significantly more NBA content for both existing and yet-to-be created platforms, we will establish a vibrant, year-round NBA presence for fans. For ESPN, this agreement continues our fruitful, longstanding relationship with the NBA and bolsters what is already the sports industry's most impressive and impactful collection of media rights."
The NBA's salary cap may rise to $88 million in 2016-17, compared to the current salary cap $63.065 million. This potential increase would affect maximum player salaries, league luxury tax, and ticket cost.
This is the reason LeBron James only signed a two-year deal to stay in Cleveland. Pending the salary cap boost, James can be looking at a 5 year deal worth up to $145 million.