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Sunday, November 21, 2021

Braves’ local TV revenue will rise sharply in 2023 and beyond

The Braves’ local television revenue will increase significantly beginning in 2023, according to figures presented at an investors conference held by team owner Liberty Media on Thursday.

The Braves currently receive slightly more than $80 million per year from Sinclair Broadcast Group’s Bally Sports for local TV rights, but that will surpass $100 million in 2023 and approach $120 million in 2027, the final season of the Braves’ 20-year TV contract.

“We were recently able to lock in 2023 through 2027 at a higher per-game rate,” Braves President and CEO Derek Schiller told the investors in a video presentation.

The escalation isn’t the result of a new contract, but of a renegotiation years ago of some of the team’s TV rights.

 

RoyalsRetro (AG#1F) Posted: November 21, 2021 at 12:00 PM | 4 comment(s) Login to Bookmark
  Tags: braves

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   1. Walt Davis Posted: November 21, 2021 at 05:53 PM (#6053895)
a renegotiation years ago of some of the team’s TV rights.

All numbers made up if that's not obvious.

Huh? Does this mean renegotiation along the lines of Sinclair originally only had the rights through (say) 2019 and made a deal to extend the rights through 2023? Or renegotiation as in the Braves held some sort of opt-out clause and Sinclair bought that out? Or renegotiation as in the Braves figured out some way to break the original contract and make more money elsewhere and Sinclair offered the extension?

I mean, if Sinclair held a contract covering (say) 2011-30 and that contract said they owed the Braves $80 M from 2023-26 and $100 M from 2027-30, what leverage would the Braves have to renegotiate?
   2. McCoy Posted: November 21, 2021 at 07:17 PM (#6053906)
The Braves had games on multiple channels when the deal was signed. By 2013 they had moved all games to the RSN and by doing so were able to negotiate a higher fee.
   3. Walt Davis Posted: November 21, 2021 at 11:21 PM (#6053931)
#2 ... see, that makes perfect sense. But the quote from Schiller sounds like they recently were able to get a higher game rate for 2023-27 than the contract called for. If this is just a standard increase already set in the 2013 (renegotiated?) contract then either Schiller is blowing smoke or he has a different idea of "recently" than I do.
   4. McCoy Posted: November 22, 2021 at 05:52 AM (#6053939)
It's an investor call. It's standard fare to take credit for things you didn't do if you're the CEO.

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