Fox won't renegotiate NFL media rights before 2030 opt-out clause
CNBC • • sports
Key Points:
- Fox CEO Lachlan Murdoch announced that Fox will not negotiate a new NFL media rights deal until closer to 2030, when its current contract with the league expires via an opt-out clause.
- Preliminary discussions between the NFL, Fox, and CBS-parent Paramount Skydance about eliminating the opt-out clause and increasing rights costs led Fox to decide against amending its existing contract, which runs through the 2029 season.
- The NFL can renew deals early with other media partners and has recently added new ones like YouTube and Netflix, but Fox plans to engage on new deals only closer to the 2030 season.
- NFL Commissioner Roger Goodell has expressed that the league's media rights are undervalued compared to other sports like the NBA, which recently signed a $77 billion deal, while the NFL's current rights deal is worth over $100 billion through 2034.
- Disney, which holds NFL rights through 2031, has not yet been approached by the NFL for renegotiations, and Disney CFO Hugh Johnston indicated their sports rights are secured well into the 2030s.
