Phillies Renew Television Contract
The Phillies’ new deal with Comcast SportsNet is for 25 years, according to MLB.com’s Todd Zolecki. The contract is worth $2.5 billion in addition to an equity stake and ad revenue, tweets Matt Gelb of the Philadelphia Inquirer.
The Phillies’ ownership stake in CSN Philadelphia will stand at 25% under the new deal, report John Ourand and Eric Fisher of Sports Business Daily, though it is not known what the team’s previous position was. The rights fee will be paid out on a schedule that increases about 3 to 4% per year, averaging out to $100MM per season over the 25-year term.
For more on this story visit: Mark Polishuk, MLB Trade Rumors