Warner Bros. Discovery Matches Amazon’s $1.8 Billion Offer for NBA Rights

Warner Bros. Discovery (WBD) has informed the NBA that it will match Amazon’s $1.8 billion annual offer to retain broadcast rights for a package of league games.

In a statement on Monday, TNT Sports, owned by WBD, confirmed the submission of matching paperwork to the NBA, emphasizing its eagerness to continue its long-standing relationship with the league. “We have reviewed the offers and matched one of them,” the statement read. “Our matching paperwork was submitted to the league today. We look forward to the NBA executing our new contract.”

This move comes as the NBA seeks to renew its media contracts, recently securing 11-year deals with Disney, NBC, and Amazon Prime Video worth a combined $76 billion. These deals, approved by the NBA’s Board of Governors last week, did not initially include WBD, which currently broadcasts NBA games on TNT and the Max streaming service.

Following the board’s approval, WBD was given a five-day window to match competing offers. WBD’s decision to match Amazon’s bid, which covers both regular season and playoff games, showcases its commitment to maintaining its NBA partnership. “We’ve received WBD’s proposal and are in the process of reviewing it,” an NBA spokesperson stated.

The NBA’s acceptance of WBD’s offer remains uncertain, as the league had intended the rights package for a streaming partner. WBD executives have indicated that a rejection of their offer could result in legal action.

For nearly four decades, Turner Sports has been a key NBA partner, hosting the popular “Inside the NBA” show. Monday’s statement from TNT emphasized the value of their continued coverage: “Our offer to match Amazon’s deal will allow fans to keep enjoying our unparalleled coverage, including the best live game productions in the industry and our iconic studio shows and talent, while building on our proven 40-year commitment for many more years.”

This high-stakes negotiation is pivotal for both the NBA and WBD, which has heavily marketed the NBA as a cornerstone of its streaming platform, Max. The renewal process began earlier this year when WBD’s exclusive negotiating window expired without an agreement, opening the door for other companies to bid.

The negotiations have not been without tension. Charles Barkley, host of “Inside the NBA,” has publicly criticized WBD’s handling of the deal. “These people I work with, they screwed this thing up, clearly; and we have zero idea what’s gonna happen,” Barkley said in May, expressing his frustration over WBD’s allocation of resources to other sports deals, such as a new five-year agreement with Disney’s ESPN for College Football Playoff games.

As legacy media companies face declining viewership and increased competition from streaming services, live sports remain a valuable asset. The NBA rights are crucial for WBD, which also holds broadcasting rights for NCAA March Madness, MLB, NHL, and NASCAR.

NBA Commissioner Adam Silver acknowledged the uncertainty surrounding WBD’s broadcast rights, stating, “I don’t know yet. Much of it is outside my control. We’ll see.”