Hello Sunday Wrap readers,

What's in a blitz? It's no secret that as linear has dwindled, studios and streamers alike have been clinging to the NFL as a surefire way to sell valuable ad space. But Paramount's change of ownership has triggered a window for the NFL to renegotiate those rights deals, and if the league opts to make its rights even more expensive, there could be a squeeze on the entire TV industry.

TheWrap's Senior Reporter Kayla Cobb unpacks the ramifications of this potential cash grab in her latest story, where experts argue that should the NFL rights go up, studios and networks will have less to spend on other programming, and even consumers could feel the squeeze.

Adam Chitwood
Executive Editor
adam.chitwood@thewrap.com

The $110 Billion Squeeze: How NFL’s Seismic Cash Grab Could Reshape TV

Beyond shows, smaller leagues and fans could feel the burn from more money funneling into the NFL

By Kayla Cobb

For the NFL, a victory in renegotiated rights with the major media players could mean a lot of losers getting caught in its wake. 

Back in 2021, the NFL struck an 11-year media rights deal with its current media partners — CBS, Fox, NBCUniversal, Disney and Amazon — that was valued at more than $110 billion. The NFL’s deal with CBS, NBC and Fox included an opt-out window that can be enforced after the 2029-2030 season. But the sale of CBS’ parent company Paramount to Skydance triggered a change-of-ownership clause in that particular deal, giving the NFL an opening to renegotiate its $2.1 billion deal with David Ellison’s company. Fox is expected to be next, even if there’s no pretext. 

As critics argue that Paramount’s change of ownership isn’t enough to warrant a renegotiation, the league’s partners find themselves in a difficult position. The NFL clearly wants more money in the wake of the NBA’s $76 billion deal. And the league’s partners need football enough that it makes more sense to play ball than to risk losing the NFL.

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