The PGA Tour signed an expanded new media rights deal that includes nine-year renewals with its longtime broadcast partners CBS and NBC, as well as a new streaming deal with ESPN+.
Staring in 2022, when the new agreements begin, the PGA’s streaming service, PGA Tour Live, will move over to ESPN+ and be expanded to include multiple live content channels nearly every week of the FedExCup season. “We are looking forward to working with the PGA TOUR to bring current and future golf fans the next generation of Tour coverage,” said ESPN president Jimmy Pitaro. “ESPN+ will offer golf fans unprecedented access and storytelling at an incredible value on the industry’s leading sports streaming platform.”
Though financial terms were not released, the deals collectively will be worth in the ballpark of $700 million, according to a person familiar with the agreements, which was eariler reported by CNBC. That would represent a 70% increase over the current agreement. Reps for the PGA Tour declined to comment. The new agreements extend through 2030.
CBS and NBC will maintain their TV weekend coverage of most FedExCup tournaments, with CBS averaging 19 events and NBC eight events each season. The new deals will also see a revised schedule, where one network will televise all three FedExCup Playoffs events each year, starting with NBC in 2022. NBC Sports Group’s Golf Channel will remain the Tour’s main cable partner.
“Following a comprehensive process of studying the market, talking to all interested parties and analyzing our various options, we’re excited to announce that we have entered into new agreements with our existing partners ViacomCBS and Comcast/NBC Sports Group, while establishing a new long-term relationship with Disney and ESPN+,” said PGA Tour Commissioner Jay Monahan. “We were extremely pleased with the interest we received from the market – both with incumbents and other media companies – and are excited that our current partners shared our vision for the future, and we are equally excited to be back in business with Disney and ESPN+. These new deals will be a major win for our fans, bringing an elevated commitment from all three partners to help us expand and innovate our content and its delivery.”
Additionally, the PGA Tour will assume responsibility of the onsite production area and technical infrastructure of the TV broadcasts, though CBS and NBC will still use their own production and announce teams.
Monahan continued: “The nine-year deals will put us in a position to significantly increase player earnings, deliver more value to our tournaments and sponsors, and ultimately allow us to continue to grow our charitable footprint. Additionally, we are now able to reinvest in our sport in a way never before possible, including production, personnel and technology, and are well positioned to best serve and grow our fanbase in the years to come.”