Saturday, November 24, 2012

Guggenbros About to Get Paid?

From Nikki Finke at Deadline:
It seems strangely logical that the highest-priced sports team in the world is about to score the richest TV deal ever in pro sports history. Insiders tell me that Fox Sports is close to clinching the exclusive TV rights for the Los Angeles Dodgers by paying between $6 billion and $7 billion over 25 years to put the team on its regional sports network in Southern California and of course its national Fox Broadcasting Company. Fox already shows the games on its Prime Ticket local cable channel but also has Fox Sports West here.

The previous agreement expires at the end of next season, and saw Fox Sports paying only about $40 million per season for the Dodgers TV rights. There was speculation the final price would just go north tof $150 million per season. This new deal soars to $280 million per season (the average for the life of the contract). The huge outlay by News Corp demonstrates the increasing value of sports to its bottom line, while the huge payday for Guggenheim offsets the record-setting $2.15 billion price paid for the Dodgers.

If the Dodgers' TV rights do indeed sell for north of $6 billion — versus the team's $2.15 billion purchase price — then I want to borrow whatever crystal ball they're using at Guggenheim Baseball Management. I mean, they'll be richer than...Frank McCourt!


Fernie V said...

We're Rich Bitch! That shit trickles down to us, right?