NBA’s new TV contract reportedly with $24 billion

The new NBA TV contract is reportedly a nine-year, $24 billion deal that will triple what the league brings in annually. This deal is expected to be announced on Monday.

This new TV contract is with the league’s traditional cable partners, ESPN and TNT. The previous contract brought the league $930 million a year, this new deal is going to be bringing in $2.66 billion a year.

As a result of this new contract, the league’s 30 franchises are about to receive a major boost in the revenue department. Each franchise gets an even portion of the revenue from all league media contracts, including TV. This has to have struggling franchises like Milwaukee, Minnesota, and New Orleans excited.

There are still a lot of questions to be answered about this contract, but this is a huge deal for first year commissioner Adam Silver and the final piece of David Stern’s legacy — Stern started negotiating this contract back in May, 2013.

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