Turner Sports has announced its intention to maintain its longstanding partnership with the NBA by matching Amazon Prime Video’s $1.8 billion per year offer.
Warner Bros. Discovery (WBD) communicated to the NBA on Monday that it would match Amazon Prime Video’s proposal. Turner Sports has held an NBA package since 1984, with games broadcast on TNT since the network’s inception in 1988.
Warner Bros. Discovery issued a statement saying, “We have reviewed the offers and matched one of them. This will allow fans to keep enjoying our unparalleled coverage, including the best live game productions in the industry and our iconic studio shows and talent, while building on our proven 40-year commitment for many more years.” The statement also noted, “Our matching paperwork was submitted to the league today. We look forward to the NBA executing our new contract.”
The NBA’s Board of Governors approved the league’s 11-year media rights deals with Disney, NBC, and Amazon Prime Video during a meeting in Las Vegas last Tuesday. WBD received all three contracts on Wednesday, initiating a five-day period to decide whether to match Amazon’s offer.
The new media rights deals, collectively valued at $76 billion, will commence with the 2025-26 season. These deals will include a nationally aired or streamed game every night during the second half of the season.
Amazon Prime Video’s package would have featured games on Thursday nights after its NFL games, as well as on Friday and Saturday nights. Turner’s TNT is expected to carry games on Thursday, with other games streamed on Max.
Amazon Prime Video did not provide a comment on WBD’s matching decision.
During an RBC Investor Conference in November 2022, Warner Bros. Discovery CEO David Zaslav remarked that Turner and WBD “don’t have to have the NBA.” Despite not reaching a deal during the exclusive negotiating period that ended in April, Zaslav and TNT Sports Chairman/CEO Luis Silberwasser indicated in recent months that they intended to match one of the offers.
WBD stated, “We’re proud of how we have delivered for basketball fans by providing best-in-class coverage throughout our four-decade partnership with the NBA. In an effort to continue our long-standing partnership, during both exclusive and non-exclusive negotiation periods, we acted in good faith to present strong bids that were fair to both parties.” The statement continued, “Regrettably, the league notified us of its intention to accept other offers for the games in our current rights package, leaving us to proceed under the matching rights provision, which is an integral part of our current agreement and the rights we have paid for under it.”
Sources familiar with the negotiations told The Associated Press that Amazon’s offer included a provision for multiple years’ payment upfront into an escrow account, which was considered a challenging condition to match. However, WBD has assured the league of its financial capacity to meet this provision.
Currently, WBD pays $1.4 billion per season under its existing nine-year deal, which concludes after the upcoming season.
Maintaining the NBA is crucial for WBD, as it would be difficult to sustain current subscriber fees without it. Retaining the NBA would also ensure the continuation of the popular “Inside the NBA” show. Charles Barkley, a prominent figure on the show, had criticized WBD’s negotiation stance and was doubtful about a successful match. Barkley announced his intention to retire after the next season.
An announcement from the NBA regarding the final media deals is expected later this week.
ESPN and ABC will continue to hold the league’s top package, featuring a conference finals series each year along with the NBA Finals. NBC and WBD will alternate carrying one of the conference finals series. NBC, which previously broadcast NBA games from 1990 to 2002, will rejoin as one of the league’s broadcast network partners for the first time.
