Major League Baseball Nears Media Rights Deals With ESPN, NBC, and Netflix

Major League Baseball is closing in on a set of new three-year media rights agreements with Disney’s ESPN, Comcast’s NBC Sports, and Netflix that would cover Sunday night games, the Home Run Derby, and postseason matchups, according to people familiar with the matter. If finalized, the agreements would mean that all of MLB’s major media rights packages expire after the 2028 season, potentially reshaping the landscape for future negotiations across both traditional and streaming platforms.

Details of the Agreements

Under the proposed structure, NBC would pay about $200 million annually to acquire rights to Sunday night games and the league’s wild-card playoff games, sources said. Netflix is expected to secure the Home Run Derby for around $50 million per year, marking the streaming service’s first move into live baseball broadcasts.

Baseball game | Source: Pexels

ESPN, which earlier this year opted out of its $550 million-per-year deal for Sunday Night Baseball, is set to obtain a new package valued at $550 million annually. According to people familiar with the negotiations, about $450 million of that figure has been attributed to licensing MLB TV, the league’s out-of-market digital package. ESPN would also gain rights to in-market games for five local teams — the Cleveland Guardians, San Diego Padres, Minnesota Twins, Arizona Diamondbacks, and Colorado Rockies — along with a new midweek package of national games.

Although discussions are advanced, the agreements have not yet been finalized and could still fall apart, people briefed on the matter cautioned. MLB, ESPN, NBC, and Netflix all declined to comment.

Background on ESPN’s Exit

ESPN’s decision to step away from its long-standing Sunday Night Baseball contract marked a significant turning point. The network, which once broadcast as many as six MLB games per week, reduced its slate to just one per week in 2022, leaving it paying $550 million annually for roughly 30 games.

In a memo sent to team owners in February, MLB Commissioner Rob Manfred noted that ESPN had asked the league to “reduce the amount they [ESPN] pay for MLB content over the remainder of the term.” Manfred wrote that the league rejected renegotiation, adding: “We do not think it’s beneficial for us to accept a smaller deal to remain on a shrinking platform.”

People watching Netflix | Source: Pexels

Strategic Implications

On a pure financial basis, MLB did not recover the money lost from ESPN’s early exit from its seven-year Sunday Night Baseball deal. However, the agreements would introduce new partners in NBC and Netflix, expanding the league’s reach across both traditional television and streaming services. Observers noted that both companies could emerge as bidders for more comprehensive MLB packages once current rights expire after the 2028 season.

The talks come at a time when traditional cable television continues to lose subscribers, and streaming platforms are seeking high-profile live sports rights to attract audiences. The inclusion of Netflix represents a significant shift, as the company positions itself in competition with established sports broadcasters.

Looking Ahead