The NHL has reached an agreement with Rogers Communications on a 12-year, $7.7 US billion media rights agreement in Canada, according to a person familiar with the deal.
The person spoke to The Associated Press on Monday on condition of anonymity because the move had not been announced. Sportico first reported on the deal.
The contract is the latest source of revenue for the league as the salary cap continues to climb. The previous deal reached in November 2013 was worth $5.2 billion CAD over 12 years.
The NHL contracted with ESPN and Turner Sports in 2021 for the current U.S. TV and streaming rights deal for $4.5 billion over seven years combined.
The TV contract in hockey’s birthplace helps the NHL’s revenue forecast for the near future, even if the Canadian dollar is weak based on tariffs and a trade war that affects the cross-border league’s business. Commissioner Gary Bettman expressed concern about the current economic situation at the general managers’ annual spring meeting in mid-March.
“If the Canadian economy is impacted to the extent that the dollar declines, the Canadian dollar, vis a vis the U.S. dollar, we do everything in U.S. dollars, so that’ll have an impact potentially on our Canadian clubs and (hockey-related revenue),” Bettman said. “But we’re hoping this is a moment in time and we get through this. I’m not weighing in politically.”
Revenues have climbed in recent years based not only on TV and streaming contracts but jersey and helmet advertising, dasherboard ads and more.
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AP NHL: https://apnews.com/hub/NHL
