Rogers to retain Canadian NHL rights with 12-year, $7.7-billion US deal: sources
New 12-Year NHL Broadcasting Deal with Rogers Worth $7.7 Billion US
The NHL and Rogers have reached a groundbreaking agreement for a new 12-year Canadian broadcasting deal valued at $7.7 billion US, according to a source familiar with the deal who spoke to The Associated Press on Monday on condition of anonymity.
This deal surpasses the current $5.2-billion, 12-year rights deal that Rogers has with the NHL, which is set to expire after the 2025-26 season.
As per reports by Sportico, the NHL owners are set to vote on the new deal this week, signaling a major shift in the broadcasting landscape for Canadian hockey fans.
Rogers, the owner of the Sportsnet network, was facing competition from tech giant Amazon for the NHL rights deal. Amazon had recently secured a two-year deal to stream Monday night NHL games in Canada on its Prime service.
In a statement made by Rogers president and CEO Tony Staffieri in May, he expressed the company’s intention to pursue a renewal of their rights deal with the NHL, signaling their commitment to Canadian hockey fans.
The new broadcasting deal is expected to provide a significant source of revenue for the NHL, contributing to the league’s growing salary cap. This comes as the NHL recently signed a $4.5 billion TV and streaming rights deal with ESPN and Turner Sports for the U.S. market.
Despite economic uncertainties, including the impact of U.S. tariffs on the Canadian dollar, NHL Commissioner Gary Bettman remains optimistic about the league’s financial outlook. He addressed concerns about the economic situation during the general managers’ annual spring meeting, emphasizing the league’s focus on navigating through current challenges.
Overall, the new broadcasting deal with Rogers represents a major milestone for the NHL, highlighting the league’s commitment to expanding its reach and revenue streams in the Canadian market.
