The television network bidding for NFL rights is ongoing with billions — and billions — of dollars on the line.
A report from Variety suggests if FOX has to choose between the Thursday and Sunday packages because of the astronomical cost, there is no-contest.
“If there is a choice between the two,” said Steve Tomsic, Fox Corp.’s CFO, speaking to investors at a conference organized by UBS, FOX’s Sunday package “is absolutely core to our hearts.”
He added: “The heritage of the company was built on Sunday afternoon football,” a reference to founder Rupert Murdoch’s decision in 1993 to gain momentum for his still-fledgling Fox broadcast network by paying a whopping $1.6 billion for the rights to Sunday NFL games previously held by CBS.
As for where the financial terms stand on current deals, which expire
CBS, NBC, and FOX are believed to be paying a combined $3.1 billion per year for Sunday games. ESPN rights to broadcast “Monday Night Football” are believed to cost around $1.9 billion per year. The NFL’s deals with FOX, CBS, and NBC expire after the 2022 season, and its deal with ESPN expires after 2021.
FOX struck a separate deal to broadcast “Thursday Night Football” for five years starting in the fall of 2019. That contract is believed to be around $650 million per season.
