We talked about lucrative local TV rights yesterday. Let’s talk national: ESPN just agreed to pay Major League Baseball nearly double what it’s paying now to keep baseball rights through 2021:
ESPN has agreed to a deal that locks down MLB rights into the next decade, according to several sources. The eight-year deal is worth $5.6B (an average of $700M per year), approximately doubling the nearly $306M ESPN currently pays MLB every year for domestic TV rights.
That includes digital, radio and, for the first time, the playoffs: one wild card game. Otherwise the deal is basically the same: Sunday Night Baseball and Monday and Wednesday night games.
The current deals with ESPN, Fox and TBS are in place through the end of the 2013 season. As the New York Times reported in July, there is a frenzy afoot, with those three outlets still wanting to keep their games, plus NBC wanting to get in on the action. Clearly those remaining will be in frenzied bidding for the Saturday and Sunday afternoon games, the postseason and any other national products that may be added over and above what exists now.
That’s a recipe for skyrocketing rights fees. And we just saw the first rocket launched.
UPDATE: Putting this money in perspective. Short version: windfall.
Yankees second baseman Gleyber Torres was born on December 13, 1996. That year, Bartolo Colon (who turns 45 years old on Thursday) was wrapping up a season he spent with Double-A Canton-Akron and Triple-A Buffalo. He would debut in the majors the following April.
In a clash of generations, the 21-year-old Torres and Colon squared off on Monday as the Yankees visited the Rangers. Torres won the battle twice, drilling a two-run home run off of Colon in the second inning and a solo shot off of Colon in the fourth. Colon wound up giving up six runs in total on eight hits (including four homers) and a walk with four strikeouts in 5 1/3 innings.
Here is video of the first homer Torres hit:
Torres is the second-youngest Yankee in club history with a multi-homer game. Mickey Mantle was 20 years and 296 days old when he went yard twice on August 11, 1952. Torres is 21 years, 159 days old. Joe DiMaggio was 21-212 when he hit two on June 24, 1936.
So much for respecting one’s elders. We’re currently seeing a youth movement in baseball. 19-year-old Juan Soto hit his first major league homer on Monday against the Padres. 20-year-olds Ronald Acuña and Mike Soroka debuted for the Braves earlier this year. Could 19-year-old Blue Jays prospect Vladimir Guerrero, Jr. join them soon?