NBA agrees to terms on a record 11-year, $76 billion media rights deal, AP source says

The NBA has agreed to terms on its new media deals, a record 11-year agreement worth $76 billion that would assure player salaries will continue rising for the foreseeable future and one that will surely change how some viewers access the game for years to come.

A person familiar with the negotiations told The Associated Press that the networks have the terms sheets, with the next step being for the league's board of governors to approve the contracts.

The person spoke to the AP on condition of anonymity Wednesday because they weren’t at liberty to discuss such impending matters.

There is a board of governors meeting in Las Vegas next week, coinciding with NBA Summer League, and it would seem logical that the deals — if they get through various committees and obtain other approvals — may be finalized around that time.

The NBA did not comment Wednesday.

The deal, which set NBA records for both its length and total value, goes into effect for the 2025-26 season. Games will continue being aired on ESPN and ABC, and now some will be going to NBC and Amazon Prime. TNT Sports, which has been part of the league’s broadcasting family since the 1980s, could be on its way out, but has five days to match one of the deals.

The five-day clock would begin once the league sends the finished contracts to TNT.

The Athletic was the first to report on the contracts.

ESPN and ABC will continue to have the league's top package, which includes the NBA Finals and one of the conference finals series. ABC has aired the NBA Finals since 2003. ABC would continue to air games on Saturday nights and Sunday afternoons when the NFL's regular season ends.

ESPN’s main nights would continue to be Wednesday with some Friday and Sunday games.

Exclusivity of the Finals comes with a big price increase. Walt Disney Company, which owns ESPN and ABC, will pay $2.6 billion per year under the new contract compared to $1.4 billion in its current deal.

The return of NBC, which carried NBA games from 1990 through 2002, gives the league two broadcast network partners for the first time.

NBC — whose deal is expected to be $2.5 billion per season — would showcase games on Sunday night once the NFL season has ended. It will air games on Tuesdays throughout the regular season while a Monday night package of games would be exclusively streamed on Peacock.

Prime Video would have games on Thursday night after it is done carrying NFL games. Its other nights would be Friday and Saturday.

NBC and Prime Video would alternate who carries the other conference final. Prime Video's rights would average $1.8 billion per year.

TNT Sports is paying $1.4 billion per season. Considering the amounts of the three proposed packages, that would make the Prime Video rights the ones it would be likely to try and match.

The length of the deals — he did not confirm the 11-year agreement specifically — are “good for the stability of the league,” Silver said during the NBA Finals last month.

“But it means to a certain extent you’re trying to predict the future, which is of course impossible,” Silver said in June. “So part of it is a bet on the partners that we will ultimately align with and their ability also to adjust with the times and their willingness to continue to invest in media and also become global, which to my earlier point is very important to the league, as well.”

In the short term, the deal almost certainly means the league’s salary cap will rise 10% annually — the maximum allowed by the terms of the most recent Collective Bargaining Agreement between the NBA and its players. That means players like Oklahoma City’s Shai Gilgeous-Alexander and Dallas’ Luka Doncic could be making around $80 million in the 2030-31 season and raises at least some possibility that top players may be earning somewhere near $100 million per season by the mid-2030s.

It also clears the way for the next major item on the NBA’s to-do list: Expansion.

Silver was very clear on the order of his top agenda items in recent seasons, those being preserving labor peace (which was achieved with the new CBA), getting a new media deal (now essentially completed) and then and only then would the league turn its attention toward adding new franchises. Las Vegas and Seattle are typically among the cities most prominently mentioned as top expansion candidates, with others such as Montreal, Vancouver and Kansas City expected to have groups with interest as well.

As the broadcast rights packages have grown in total value over the last 25 years, so, too, have salaries because of how much that revenue stream ends up fueling the salary cap.

When NBC and Turner agreed to a $2.6 billion, four-year deal that started with the 1998-99 season, the salary cap was $30 million per team and the average salary was around $2.5 million. The average salary this season exceeded $10 million per player — and it’s only going to keep going up from here.

When that NBC-Turner deal that started a quarter-century ago expired, the next deal — covering six seasons — cost ABC, ESPN and Turner about $4.6 billion. The next was a seven-year deal, costing those networks $7.4 billion.

The current deal, the one that will expire next season, smashed those records — nine years, nearly $24 billion.

And now, that seems like pocket change.

AP NBA: https://apnews.com/hub/NBA

FILE - The NBA logo at center court is shown during the second half of an NBA first-round playoff basketball game between the Houston Rockets and Oklahoma City Thunder in Lake Buena Vista, Fla., Wednesday, Sept. 2, 2020. The NBA has agreed to terms on its new media deal, an 11-year agreement worth $76 billion that assures player salaries will continue rising for the foreseeable future and one that will surely change how some viewers access the game for years to come. (AP Photo/Mark J. Terrill, File)

FILE - NBA basketballs and the NBA Finals logo are seen on the court prior to Game 1 of the NBA Finals basketball series between the San Antonio Spurs and Miami Heat, Thursday, June 5, 2014, in San Antonio. The NBA has agreed to terms on its new media deal, an 11-year agreement worth $76 billion that assures player salaries will continue rising for the foreseeable future and one that will surely change how some viewers access the game for years to come. (AP Photo/Eric Gay, File)

FILE - An NBA logo is seen at center court prior to an NBA basketball game between the Los Angeles Clippers and the Los Angeles Lakers, Thursday, July 30, 2020, in Lake Buena Vista, Fla. The NBA has agreed to terms on its new media deal, an 11-year agreement worth $76 billion that assures player salaries will continue rising for the foreseeable future and one that will surely change how some viewers access the game for years to come. (Mike Ehrmann/Getty Images via AP, Pool, File)

FILE - NBA Commissioner Adam Silver talks to reporters before Game 1 of basketball's NBA Finals between the Boston Celtics and the Dallas Mavericks, Thursday, June 6, 2024, in Boston. The NBA has agreed to terms on its new media deal, an 11-year agreement worth $76 billion that assures player salaries will continue rising for the foreseeable future and one that will surely change how some viewers access the game for years to come. (AP Photo/Charles Krupa, File)

FILE - Philadelphia 76ers' Tobias Harris, center, goes up for a shot between Cleveland Cavaliers' Dean Wade, left, and Georges Niang during the first half of an NBA basketball in-season tournament game, Tuesday, Nov. 21, 2023, in Philadelphia. The NBA has agreed to terms on its new media deal, an 11-year agreement worth $76 billion that assures player salaries will continue rising for the foreseeable future and one that will surely change how some viewers access the game for years to come. (AP Photo/Matt Slocum, File)

NBA commissioner Adam Silver opens the NBA basketball draft, Wednesday, June 26, 2024, in New York. (AP Photo/Julia Nikhinson)

CHICAGO (AP) — Vice President Kamala Harris is telling voters they have a chance to chart a "new way forward" as Americans this November, as she looks to introduce herself to voters and prosecute her case against Republican Donald Trump Thursday night as she accepts her party's nomination at the Democratic National Convention.

Harris walked onstage to thunderous applause and a long standing ovation as convention-goers chanted her name.

Harris' address in Chicago caps a whirlwind eight weeks in American politics and manifests the stunning reversal of Democratic fortunes just 75 days until Election Day. Party leaders, who had publicly despaired over President Joe Biden's candidacy after his disastrous debate against Trump, were jubilant both at the historic nature of Harris' candidacy and their buoyed hopes for this November.

“America, the path that led me here in recent weeks was no doubt unexpected. But I’m no stranger to unlikely journeys," she said.

“With this election, our nation has a precious, fleeting opportunity to move past the bitterness, cynicism, and divisive battles of the past,” Harris is saying in what is expected to be a 40-minute speech. “A chance to chart a New Way Forward. Not as members of any one party or faction, but as Americans.”

Harris is the first Black woman and first person of South Asian descent to accept a major party's presidential nomination, and if elected, she would be the first female U.S. president. As she took the stage, she looked out across a sea of female delegates and Democratic supporters wearing white — the color of women’s suffrage — the movement that culminated with American women securing the right to vote in 1920.

A festive mood filled the United Center all evening, with a packed audience including running mate Tim Walz dancing and singing along to a mix of pop and classic rock. Two of Harris' young grandnieces were brought onstage by actress Kerry Washington to remind the convention how to correctly pronounce her first name. At the girls' direction, one side of the arena shouted “comma” and the other “la.”

Despite speculation about a potential surprise appearance by the music superstar Beyoncé at Thursday’s convention ahead of Harris' speech, a source involved in the evening’s planning who was not authorized to discuss it publicly said she would not be in attendance.

Just a month after Biden ended his reelection bid and endorsed her to replace him atop the Democratic ticket, Harris was looking to make the most of her chance to define herself to voters on her own terms before an audience of millions.

Harris shared her background rising from a middle-class family to protect others as a prosecutor, contrast her “optimistic” vision with Trump’s “dark” agenda and evoke a sense of patriotism, according to a campaign official who spoke on condition of anonymity to discuss sensitive speech preparations.

Harris spoke briefly to the convention on Monday, when she thanked Biden and celebrated his record as president, and again on Tuesday, when the beginning of her rally in Milwaukee was streamed into the convention hall after Democrats reaffirmed their nomination of her with a state-by-state roll call.

Among others who spoke before Harris on Thursday were Michigan Gov. Gretchen Whitmer, North Carolina Gov. Roy Cooper, Gabby Giffords, the Arizona Democrat who was nearly killed in a mass shooting in 2011, and civil rights leader Al Sharpton.

Sharpton highlighted the historic nature of Harris' nomination, noting that 52 years ago, he was a youth director for former Rep. Shirley Chisholm’s 1972 Democratic primary bid for the White House. Chisholm, who was Black, died in 2005, but Sharpton drew cheers when he declared, “I know she’s watching us tonight as a Black woman stands up to accept the nomination for president of the United States.”

Sharpton also introduced the now-exonerated members of the Central Park Five — the Black teenagers who were wrongly convicted of rape in New York City in 1989. Trump took out full-page newspaper ads at the time calling for five to receive the death penalty — and even today sidesteps calls to apologize.

As it has all week, Thursday night’s convention programing aimed to appeal to anti-Trump Republicans to put aside party labels and support Harris over Trump. Former Rep. Adam Kinzinger of Illinois, a Republican, was granted a prime-time spot minutes before Harris took the stage to say, “Harris shares my allegiance to the rule of law, the Constitution, and democracy.”

“Whatever policies we disagree on pale in comparison with those fundamental matters of principle. Of decency. Of fidelity to this nation. To my fellow Republicans: If you still pledge allegiance to those principles, I suspect you belong here, too,” Kinzinger said.

Casting Harris as the better guarantor of the nation's security, former Obama administration Defense Secretary Leon Panetta evoked Ronald Reagan and Democratic Rep. Ruben Gallego of Arizona slammed Trump for targeting the late Republican Sen. John McCain, the GOP nominee for president in 2008.

“John McCain was an American hero,” Gallego said. “Show some respect.”

Harris, the daughter of immigrants from Jamaica and India, spoke a day after Walz, her choice for running mate, thanked the packed Chicago arena for “ bringing the joy ” to the election.

Despite Harris’ prominence as vice president, she’s spent four years in Biden’s shadow, leaving some Americans unclear on her personal history and her political vision for the country.

Harris talked about her mother being the one who primarily raised her, and the family renting a small apartment in San Francisco’s East Bay. She will also detail a key part of her political origin story, when Wanda, her best friend from high school, confided in her that she was being abused by her stepfather and came to live with Harris.

“That is one of the reasons I became a prosecutor. To protect people like Wanda,” Harris was saying.

Republicans, meanwhile, have raced to define Harris, accusing her of being a “communist” and “dangerously liberal.” Trump has also targeted her race, while his running mate JD Vance describes her as a “chameleon.”

Harris' team has emphasized her law enforcement background, including her time as San Francisco district attorney and California attorney general. She was later elected to the U.S. Senate and sought the Democratic presidential nomination in 2020.

Her campaign imploded that year before a single primary vote was cast, but Biden chose her as his running mate, catapulting her to the national stage.

Although Harris initially struggled as vice president, her reputation grew when she became the administration's leading advocate for abortion rights after the U.S. Supreme Court overturned Roe v. Wade. Democrats harnessed anger over the decision to stem their losses in the last midterm elections.

When Biden stumbled in his debate with Trump in June, Harris defended him until he decided to drop out of the race. With the help of his endorsement, she swiftly unified the Democratic Party behind her candidacy, resetting a presidential race that Trump had appeared on track to win.

“We know what we’re dealing with in this moment,” Harris said this week in Milwaukee. “And we must remember — as the generations of Americans before us who led the fight for freedom — the baton is now in our hands.”

Associated Press writers Chris Megerian in Washington and JJ Cooper in Phoenix contributed.

Demoratic presidential nominee Vice President Kamala Harris speaks during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Morry Gash)

Democratic presidential nominee Vice President Kamala Harris walks on stage to speak during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Delegates cheer during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Paul Sancya)

Kim Rubio, of Uvalde, Texas, speaks during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Brynn Anderson)

Former Rep. Gabrielle Giffords, of Arizona, right, and her husband Sen. Mark Kelly, D-Ariz., appear during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Erin Hooley)

Michigan Gov. Gretchen Whitmer speaks during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Brynn Anderson)

Democratic veterans serving in local, state and federal levels of government stand alongside Rep. Ruben Gallego, D-Ariz., during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Kerry Washington, center, with grand-nieces of Vice President Kamala Harris Amara Ajagu, right, and Leela Ajagu, speak during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Kerry Washington speaks during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Charles Rex Arbogast)

Democratic vice presidential nominee Minnesota Gov. Tim Walz claps during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Matt Rourke)

The Pack Drum Line, the official drum line of the Chicago Sky and the Chicago Bulls, perform during the final day of the Democratic National Convention in Chicago, Thursday, Aug. 21, 2024. (Mike Segar/Pool via AP)

Helena Hudlin, from left, Meena Harris and Ella Emhoff depart after speaking during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Democratic vice presidential nominee Minnesota Gov. Tim Walz has a picture taken during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Matt Rourke)

Delegates watch a presentation during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Brynn Anderson)

Sen. Elizabeth Warren, D-Mass., speaks during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Erin Hooley)

CORRECTS ID OF KOREY WISE - Yusef Salaam, left, and Korey Wise, members of the Exonerated Five, speak during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

The Pack drum line, the official drum line of the Chicago Sky and the Chicago Bulls, performs during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Kerry Washington, left, and Tony Goldwyn appear on stage during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Supporters wave flags during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Matt Rourke)

Sen. Elizabeth Warren, D-Mass., speaks during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Paul Sancya)

Rev. Al Sharpton, background center, looks on as members of The Exonerated Five, Korey Wise, from left, Yusef Salaam, Kevin Richardson and Raymond Santana speak during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Content creators cheer from their position on the floor before the final night of the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Charles Rex Arbogast)

Protesters fight during a demonstration near the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Alex Brandon)

Pink, fifth from left, stands on stage during a sound check before the start of night four of the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

People in the crowd wear white during the Pledge of Alliegence during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/Morry Gash)

Rep. Veronica Escobar, D-Texas, speaks during the Democratic National Convention Thursday, Aug. 22, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Democratic presidential nominee Vice President Kamala Harris speaks at the Fiserv Forum during a campaign rally in Milwaukee, Tuesday, Aug. 20, 2024. (AP Photo/Jacquelyn Martin)

Gus Walz cries as Democratic vice presidential nominee Minnesota Gov. Tim Walz speaks during the Democratic National Convention Wednesday, Aug. 21, 2024, in Chicago. (AP Photo/Matt Rourke)

Democratic vice presidential nominee Minnesota Gov. Tim Walz speaks during the Democratic National Convention Wednesday, Aug. 21, 2024, in Chicago. (AP Photo/J. Scott Applewhite)

Democratic presidential nominee Vice President Kamala Harris and running mate Minnesota Gov. Tim Walz appear at the Fiserv Forum during a campaign rally in Milwaukee, Tuesday, Aug. 20, 2024. (AP Photo/Jacquelyn Martin)

Democratic vice presidential nominee Minnesota Gov. Tim Walz reacts during the Democratic National Convention Wednesday, Aug. 21, 2024, in Chicago. (AP Photo/Matt Rourke)

A person wears a printed shirt with many portraits, including Democratic presidential nominee Vice President Kamala Harris, during the Democratic National Convention Wednesday, Aug. 21, 2024, in Chicago. (AP Photo/Erin Hooley)