Hornets Extend TV Deal With FS Southeast For Nearly 10 Years
The Hornets have "extended their local media deal" with FS Southeast, covering the team’s rights for the "bulk of a decade," according to Ourand & Lombardo of SPORTSBUSINESS JOURNAL. Sources said that Fox Sports starting next season "will pay the team an annual rights fee" in the low-to-high $20M range annually, up from about $14M this season. The contract is "just shy of 10 years and ends with a rights fee" in the high $20M range. Sources said that the deal’s financials are "in line with other NBA teams from similar-sized markets." FS Southeast has been the team’s TV partner since '08, helping "broaden the team’s TV distribution from about 750,000 homes to today where the games reach nearly every area in North Carolina and South Carolina." The new agreement for the first time "will include two preseason games, with the current 30-minute pregame and postgame shows to continue" (SPORTSBUSINESS JOURNAL, 3/12 issue).