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http://www.nytimes.com/2014/10/06/sports/basketball/nba-said-to-be-near-new-tv-deal-for-24-billion.html?_r=0The N.B.A. will receive $24 billion over nine years in deals the league has renewed with ESPN and TNT through the 2024-25 season, according to an executive briefed on the details of the contracts but not authorized to speak publicly.
The deals, which will be announced Monday, represent a near-tripling of the annual average rights fees that ESPN and TNT have been paying in contracts that will end after the 2015-16 season.
The average yearly payments will rise from about $930 million to $2.66 billion.
The N.B.A. is the latest sports league to benefit from networks’ ever-growing belief in the power of live sports — and their willingness to pay richly for it.
Rights deals keep rising without any sign of abating, as do the monthly cable bills for consumers, which have been heavily affected by skyrocketing sports rights.
The N.F.L. last week struck a deal that will require DirecTV to pay $1.5 billion a year for eight years, through 2022, to retain its rights to carry NFL Sunday Ticket, a satellite package of out-of-market games. Next year, the N.F.L. expects to take in between $6.5 billion and $7 billion a year in rights fees from its TV partners.
The new N.B.A. deal was much anticipated and will be the first for the new commissioner, Adam Silver. There was considerable speculation that the league might carve out a package of games for Fox Broadcasting and its cable network, Fox Sports 1, but the league ultimately stuck with ESPN and TNT.
LeBron James signed a two-year deal with the Cleveland Cavaliers this year, recognizing that he will be able to get even more in another contract when the new TV deals start.
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Power is always in the hands of the masses of men. What oppresses the masses is their own ignorance, their own short-sighted selfishness.
- Henry George
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