Earlier this year, NHL commissioner Gary Bettman reportedly approached the league’s current media rights partners, ESPN and TNT, about negotiating new agreements early. The league’s current deals run through the 2027-28 season, but the threat of the NFL taking its rights to market early, and extracting even more capital out of the market for sports media rights, has the NHL and other leagues interested in beating the NFL to the punch.
During a press conference before Game 1 of the Stanley Cup Final on Tuesday, Bettman addressed where the league stands in terms of its media rights negotiations.
“I am excited about those prospects [in rights renegotiation], based on how well we’re performing,” Bettman said, per Front Office Sports, alluding to the viewership success the league has seen this season. “While there have been some casual discussions [with ESPN and TNT Sports], we’re not at the point where we’re in firm negotiations. We’ll respect the rights that are in the contracts, and if things materialize sooner, great. If not, we’re more than prepared to go through the usual routine.”
The league is reportedly “about to enter an exclusive renegotiation period” with both ESPN and TNT Sports.
The upcoming negotiations come at a critical time for the NHL as the league tries to capitalize on the increased interest the sport of hockey has seen in the United States following the nation’s gold medal campaign in the Olympics earlier this year. The NHL currently brings in an average of $625 million per year from its deals with ESPN and TNT. In Canada, the league recently struck a new deal with Rogers Communications that earns it an average of $641.7 million per year.
One wrinkle of the upcoming U.S. negotiations: TNT Sports will likely be operating under new ownership as the Paramount-Warner Bros. Discovery transaction looks to formally close later this year. Bettman has already been bullish on the opportunity for the NHL to work with Paramount, particularly when it comes to the possibility of placing games on CBS.
“I would be very excited to see the opportunity that being with CBS and CBS Sports would present. I think for the NHL, what’s happening with Paramount and Warner Bros. Discovery is potentially very good for us. So, consider me a fan,” the commissioner said during a March interview.
Given Bettman’s relatively tepid characterization of negotiations this week as “casual discussions,” it appears the NHL will likely be on a more traditional timeline when it comes to renewing its media rights. Considering the NFL’s own negotiations are hitting some speed bumps, it makes sense that Bettman would decide to pump the breaks and allow the normal proceedings to play out, at least for now.