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Celtics near big money deal with Comcast

Chuck - Red's Army July 18, 2011 Uncategorized Comments Off

Via The Sporting News:

The proposed deal, which could be finalized in the next few weeks, would extend the Celtics’ media deal to 2038 from the current agreement that runs through 2017. In addition, the team would take up to a 20 percent equity stake in the regional sports network (RSN) and receive a healthy increase in its annual rights fee. The Celtics currently get between $15 million and $20 million annually, which is considered below market for such a strong franchise.

Neither Comcast SportsNet nor the Celtics would comment for this story.

Comcast SportsNet President Jon Litner is the architect of the deal, which will give the Celtics a sizable signing bonus and steep increases in the first few years of the deal, though specific terms are not yet known. The rights fees increases will level off throughout the length of the agreement.

What does this mean for fans? Ownership may have more money to play with.

But… let's just hope this doesn't put CSNNE in the same boat as NESN and make them reluctant to criticize ownership or limit the depth of their reporting on certain sensitive issues (arrests, court cases, trade rumors etc.)

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