The rich keep getting richer and richer.
Tuesday, it was revealed that one of Major League Baseball's national TV partners, ESPN, is re-upping with the league in a deal that could be worth $700 million per year:
ESPN has agreed to a deal that locks down MLB rights into the next decade, according to several sources. The eight-year deal is worth $5.6B (an average of $700M per year), approximately doubling the nearly $306M ESPN currently pays MLB every year for domestic TV rights.
The deal also includes radio rights that could be worth $50 million; ESPN would continue its Sunday Night Baseball franchise, do other games during the week, and carry one wild-card game. This also will not surprise you:
ESPN also picked up rights to carry games featuring more popular teams, like the Yankees and Red Sox, more frequently.
And, as Maury Brown notes, there's more money to come from other TV partners:
Before any expenses, as part of new ESPN deal w/MLB, ea club gets approx. $23.33M a yr. up from $10.2M. And think: FOX, TBS still to renew— Maury Brown (@BizballMaury) August 28, 2012
The rich, as noted, keep getting richer. Much richer.