The PGA Tour has announced a new nine-year media rights deal which will allow it to “significantly increase player earnings”.
The agreement runs from 2022-2030 and includes existing partners ViacomCBS and the Comcast/NBC Sports Group, as well as a new relationship with Disney and ESPN+.
The PGA Tour would not disclose financial details of the new deals, but commissioner Jay Monahan said: “The nine-year deals will put us in a position to significantly increase player earnings, deliver more value to our tournaments and sponsors, and ultimately allow us to continue to grow our charitable footprint.
“Additionally, we are now able to reinvest in our sport in a way never before possible, including production, personnel and technology, and are well positioned to best serve and grow our fanbase in the years to come.”
The PGA TOUR has announced its new nine-year domestic media rights portfolio, which will lead to significantly expanded content offerings and improved fan experience in the coming years.https://t.co/zSHRtc5fSo— PGA TOUR (@PGATOUR) March 9, 2020
Sports Business Journal reported in December that the TV rights alone would be worth £535million a year.
The conclusion of the deal comes at a welcome time for the PGA Tour as it seeks to see off the threat posed by the proposed Premier Golf League in which 48 players would compete in an 18-event season offering a total prize fund of £183million.
World number one Rory McIlroy has ruled himself out of joining the new circuit but said last week that he is not opposed to streamlining an “oversaturated” golf market and would like more events will smaller fields and no halfway cut.