The NFL is reportedly set to unveil a new TV contract extension with Amazon in early January.
The deal was announced in early February, but the details are only now starting to emerge.
The TV deal is believed to be worth about $70 million per season, per a source with knowledge of the deal.
That is substantially less than what the NFL is getting from Comcast, which is reportedly looking to make a profit on its $1.6 billion deal with Amazon Prime Video.
Amazon is reportedly getting about $2 billion per year from the deal, according to a source.
The NFL will reportedly be able to sign the deal on a short-term basis.
However, the contract will be extended through the 2021 season, the source said.
The contract will likely be signed in early March.
The NFL would have to pay about $40 million in salary cap space and would have about $18 million in dead money to absorb if it had to cut players, per the source.
That figure is lower than what CBS Sports’ Ken Berger reported in late January, but it’s still quite significant.
The $70-million-per-season extension would be the largest of any professional sports league and would give the NFL a significant boost in revenues and television ratings.
The new deal with ESPN and Amazon is expected to give the league another source of revenue, but that’s not the only reason why the NFL might want to extend the contract.
The league is reportedly eyeing another TV deal with DirecTV, a cable company that is part of Comcast’s $15 billion-plus package with the league.
The Direcision deal has been in place for a number of years, but has seen the NFL struggle with declining viewership and ratings.
ESPN has also been struggling with declining subscribers, and Amazon Prime has seen a number the NFL has struggled to gain subscribers.
The next extension is likely going to be the most lucrative one, because the league is also going to have to cut some players, but there is still a possibility that the deal could be extended beyond 2021.
The New York Jets have been in a similar position with the extension with ESPN, but a source told ESPN’s Adam Schefter that the Jets are “pretty confident” that they won’t be getting another extension.