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Leonsis Strikes Mega-Deal With CSN Mid-Atlantic

Jason Barrett

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Local sports mogul Ted Leonsis is in the final stages of a media rights deal with Comcast SportsNet Mid-Atlantic that, if concluded, could give his organization a one-third ownership in the regional sports network, which has carried his Wizards and Capitals games for years.

The outlines of the agreement, confirmed by people familiar with the negotiations, would provide Monumental Sports & Entertainment something Leonsis has wanted since investing in the sports properties and the Verizon Center more than 16 years ago: equity in a sports television network spanning Washington and Baltimore.

Just two years ago, when Leonsis formed Monumental Network, a digital site that carries his teams’ content, the former AOL executive spelled out his ultimate target

“The long-range goal is to own our own means of distribution,” Leonsis said at the time. “The most successful sports teams right now are successful because they own their own regional sports networks.”

The competition for live sports programming in the digital era has given professional teams an edge in negotiating new rights deals, with several other sports teams owning all or parts of regional sports networks, including baseball’s Boston Red Sox, Texas Rangers, Los Angeles Angels and Chicago White Sox and Cubs, to name a few.

Equity in regional sports networks gives teams a chance to own a growing business that it can sell either as part of, or separate from, the team.

It also adds another revenue stream from ads sold around college and minor league sports, feature shows and other programming.

In addition to the financial incentives, “ownership allows teams and ownership groups to control and manage any messaging necessary around the team,” said David M. Carter, executive director of the Marshall Sports Business Institute at the University of Southern California.

Through a spokesman, Leonsis declined to comment Monday. As chairman and largest shareholder in Monumental, he holds a strong hand in the negotiations with Comcast because his two professional teams are part of Comcast’s regional winter sports program. Those describing the tentative deal did so on the condition of anonymity because the terms are not yet final.

The new deal was first reported by the Sports Business Journal. The agreement,which would extend Comcast’s current media deals with the two teams, would run through the 2031-32 seasons.

The Leonsis sports empire is one of the few that own both an arena and teams. The negotiations have become public at a time when sports rights deals have been making headlines in Washington.

To read more visit the Washington Post where this article was originally published

Sports TV News

The NFL Still Considering Multiple Offers For Sunday Ticket

The NFL has had the respective bids of Disney, Apple and Amazon for weeks now. DirecTV has not bid for the package but has stated it is willing to partner with the new rightsholder for a potential deal.

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Sunday Ticket Negotiations

DirecTV currently has the rights to Sunday Ticket. That deal expires at the end of this upcoming football season. The NFL is expected to make a boatload of cash when they decide which media organization gets the next rights to the package. The only question is… who will that be?

Alex Sherman of CNBC reports that the NFL has had the respective bids of Disney, Apple and Amazon for weeks now. DirecTV has decided not bid for the package. However, they are interested in partnering with the new rightsholder for a potential deal. DirecTV knows that Sunday Ticket is a staple in bars and restaurants and is interested in maintaining those relationships.

Outside of the bar/restaurant industry, success has been limited for the satellite provider with the football package. Fewer than two million subscribers signed up for Sunday Ticket each year which made the package a money-loser for the satellite TV provider.

According to the report, the NFL wants more than $2 billion for the rights and a stake in NFL Media, which is being packaged with Sunday Ticket. Also on the table is the NFL’s mobile rights. The league’s previous mobile agreement with Verizon has ended.

An interesting piece of the negotiations is Sunday Ticket price. According to the report, a buyer would have limited flexibility on pricing. The NFL signed contracts with CBS and Fox and within the framework of those deals, language mandates Sunday Ticket have a premium price. That’s to prevent loss of viewers from the networks that feature local market Sunday afternoon games. So essentially, the price is the price for the consumer.

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Sports TV News

F1 Renews With ESPN For U.S. Media Rights

ESPN was reportedly in a three-way bidding battle with Amazon and Comcast. According to the report, F1 told both Amazon and Comcast on Friday that they had decline to accept either one’s offer.

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F1 ESPN

The racing series F1 has decided to stick with ESPN through 2025.

ESPN was reportedly in a three-way bidding battle with Amazon and Comcast. According to the report, F1 told both Amazon and Comcast on Friday that they had decline to accept either one’s offer.

The reported value of the three-year contract is set to pay F1 $75-90M per year for the U.S. media rights. Amazon had offered to pay roughly $100M per year, with the right to sublicense to a linear broadcast network. Comcast’s offer was similar to ESPN’s in terms of value and the structure. They also wanted to put select races on it’s streaming service, Peacock.

Netflix was in on the negotiations, as well. The makers of Drive to Survive, the streaming series that many credit with the sport’s explosion in popularity in recent years, wasn’t close on on their financial offer. Also, it seems F1 executives were not ready to put all of its races on a streaming service just yet.

Currently, F1 receives $5M per year for ESPN to broadcast it’s races. ESPN has grabbed about 1.0 million viewers per race. That makes F1 a more than viable option for the network to invest into again. ESPN will be able to put a small number of races on its ESPN+ streaming service exclusively. The vast majority being on ABC or ESPN.

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Sports TV News

Skip Bayless Says He And Stephen A. Smith ‘Sorted Out’ Their Disagreement

“Brothers fight. We have fought before. I’m assuming we will fight again.”

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Skip Bayless

Stephen A. Smith and Skip Bayless were locked in a war of words last week following the First Take host’s appearance on JJ Redick’s Old Man and the Three podcast.

The origins of their partnership were discussed and Bayless admitted he did not like the way Smith characterized the state of First Take before he arrived on set. Smith insisted that Bayless simply misunderstood what he meant by saying that he was told the show needed him.

Over the weekend, Skip Bayless says he and Stephen A. Smith got together at the Bayless home in California to talk things out in private.

“He was in LA, he came over, we sat by the pool,” he said on the latest episode of The Skip Bayless Show. “It wasn’t the easiest conversation for a while, but we slowly but surely sorted it out. We got through it, and we have been through so much together.”

Bayless reiterated that he considers Smith a brother. They love each other. That doesn’t mean they are always going to remember events the same way or see eye-to-eye all the time.

“Brothers fight. We have fought before. I’m assuming we will fight again.”

Fighting doesn’t mean the relationship is fractured. In fact, Skip Bayless was adamant that he remains closer to Smith than he is to most people in his life.

“I don’t trust easily because of the way I was raised, but I do trust Stephen Anthony Smith. Trust him with my life. Always have and always will. I trust he will always be there for me, and you better believe I will always be there for him.”

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