by The US Open will remain on ESPN for the foreseeable future, at a significant cost.
ESPN announced Wednesday that it has extended its relationship with the New York-based tournament on a 12-year deal, pushing ownership of the rights out to 2037. The Athletic reports the price tag is $2.04 billion .
That’s about $170 million a year.
ESPN’s deal was previously set to expire after 2025, and this new contract gives the network exclusive rights in Latin America, the Caribbean and Canada. Streaming rights and coverage for Mid-Sunday and Final Sunday of the tournament will also be expanded on ESPN’s broadcast partner, ABC.
From ESPN:
“We are extremely proud of our 15-year relationship with the USTA,” said Jimmy Pitaro, president of ESPN. “This agreement reinforces our long-term commitment to tennis, our ability to present one of the most important events in the annual sporting calendar and, as the first sporting event in the world to offer equal purses to its female and male competitors , The Walt Disney Company’s industry-leading commitment to women’s sports.
ESPN also currently owns the rights to Wimbledon and the Australian Open, while the French Open is set to migrate from NBC and Tennis Channel to TNT in 2025, thanks to the 10-year, $650 million deal from Warner Bros. Discovery.
The US Open’s higher price tag is due to several factors, but the most obvious is the time zone advantage of the only US-based Grand Slam. The tournament has a larger national appeal than the rest of the Grand Slams and often offers value beyond broadcasts thanks to the celebrity factor of players and participants.
With Roger Federer and Serena Williams retired, Rafael Nadal set to join them and Novak Djokovic at 37, the deal is also a bet that the tennis world will provide new superstars over the next decade.
