NHL games in Canada will no longer be aired on ESPN-owned TSN as the NHL has signed a new deal with Rogers Sportsnet
according to the Toronto Star.
The new 12-year, $US5.2 billion contract, with an average annual value of $US433 million, is a record for the NHL, surpassing the current 10-year, $US1.9 billion deal with NBC to broadcast games in the United States.
The deal also is also a huge increase from their previous Canadian rights deal with TSN, which paid the NHL $US100 million annually. That deal expires after this season. ESPN, who was outbid for NHL games in the U.S., owns 20% of TSN.
The new deal with Rogers Sportsnet will pay the NHL $US150 million up front and will start with an annual payment of $US300 million, gradually increasing to $US500 million in the final year of the contract.
The new deal will also be huge for NHL franchise values. The value of the average NHL franchise was up 46% in the past year according to Forbes.com, and those most recent valuations assumed the new Canadian broadcast deal would be worth “around $US200 million” annually.
Business Insider Emails & Alerts
Site highlights each day to your inbox.