NHL, Rogers Agree to $7.7 Billion 12-Year Media Rights Deal, 111% Increase

The National Hockey League (NHL) has finalized a groundbreaking 12-year media rights agreement with Rogers Communications, valued at $7.7 billion USD. This deal, which is more than double the previous contract signed in November 2013, signifies a major achievement for both the NHL and Rogers. The previous agreement, worth $5.2 billion in Canadian dollars, was set to expire next season. The new deal, which extends through the 2037-38 season, includes an escalator structure, with payments increasing over time.

NHL Commissioner Gary Bettman described the negotiation process as smooth, despite the complexities involved in the financial aspects. He emphasized the mutual resolve of both parties to continue their partnership, which facilitated the extension of the exclusive negotiating period. The agreement covers national rights across all platforms, including TV, digital, and streaming, for all national regular-season games, in all languages, as well as out-of-market rights for all regional games. This comprehensive deal ensures that fans will have access to a wide range of NHL content, with fewer blackouts and more opportunities to watch regional games nationally.

Rogers CEO Tony Staffieri highlighted the growing value of live sports content, citing a 50% increase in viewership over the past decade. This growth has translated into steady and healthy revenue increases for Rogers, driven by advertising, subscription, and sub-licensing revenue. The new deal is expected to continue this trend, with Rogers looking to sub-license certain rights where it makes sense. The agreement also includes national rights to all playoff games, the Stanley Cup final, and all special events, in all languages. Additionally, Rogers will have the opportunity to convert regional games into nationally-televised ones, based on matchups and fan demand.

Bettman acknowledged the economic factors at play, including the lower exchange rate of the Canadian dollar. He expressed concerns about the potential impact of a struggling Canadian economy on the league's business operations, given that Canadian teams pay their players in U.S. dollars. However, he remains optimistic about the future and the ability of the two countries to resolve their trade tensions.

The new deal represents a 111% raise from the previous agreement, which is significant but less than the increases seen in other major sports leagues. The NBA's U.S. rights deal increased by 160% from 2016 to 2025, and the NHL's U.S. rights deal increased by 213% from 2011 to 2021. This comparison underscores the growing value of sports media rights and the competitive landscape in which Rogers and the NHL are operating.

In summary, the $7.7 billion deal between the NHL and Rogers is a testament to the enduring partnership between the two entities and the growing value of live sports content. The agreement ensures that fans will have access to a wide range of NHL content, with fewer blackouts and more opportunities to watch regional games nationally. The economic factors at play, including the lower exchange rate of the Canadian dollar, were acknowledged, but both parties remain optimistic about the future. The new deal represents a significant increase in media rights value, but it is less than the increases seen in other major sports leagues, highlighting the competitive landscape in which Rogers and the NHL are operating.