The Celtics are "finalizing a lucrative media rights package with Comcast SportsNet New England that will extend their current deal by 20 years with a big jump in its annual rights fee, as well as give the team a stake in the network," according to Ourand & Lombardo of SPORTSBUSINESS JOURNAL. The pact would "continue the trend of big market teams securing significant increases in media rights fees that double or triple the payout from existing deals." The proposed deal would "extend the Celtics’ media deal to 2038 from the current agreement that runs through 2017." The team additionally would take "up to a 20 percent equity stake in the regional sports network and receive a healthy increase in its annual rights fee." The Celtics currently get between $15-20 million annually, which is "considered below market for such a strong franchise." Comcast SportsNet President Jon Litner is the "architect of the deal, which will give the Celtics a sizable signing bonus and steep increases in the first few years of the deal." The Celtics and Comcast SportsNet "have been partners since Comcast bought the RSN from Cablevision in 2007" (SPORTSBUSINESS JOURNAL, 7/18 issue).
