TORONTO — Commissioner Gary Bettman said the money took some work, but the negotiation process was otherwise smooth for its newest broadcast rights deal in Canada.
Rogers Communications Inc. and the National Hockey League announced a new 12-year agreement Wednesday valued at $11 billion for the national media rights to NHL games on all platforms in Canada.
"Based on how the discussions were going and Rogers' resolve to retain us and our resolve to try and continue to make the partnership work, we actually extended the exclusive negotiating period so that we could get to a point that we were both comfortable," Bettman said.
"It wasn't what I would describe as contentious in the least. I think we were pretty much on the same page. We had to work a little bit on the money, but that came together as well. But in the final analysis, we wanted to be together. And that's how it came together, as quickly as it did."
The agreement is worth more than double the current rights deal between Rogers and the NHL, which cost $5.2 billion over 12 years and is set to expire next season. The new deal runs through the 2037-38 season and has an escalator structure, with less being paid early in the deal.
When the current deal was signed in 2013, C$5.2 billion was worth US$4.91 billion. The new deal is currently worth US$7.7 billion, with the Canadian dollar having dipped.
The lower exchange rate is one of several economic factors at play, and Bettman acknowledged broader concerns about the Canadian economy amid ongoing trade tensions with the United States.
"I have concerns from a business standpoint for the league that if the Canadian economy suffers by what's going on, that will impact the way we have to do business from an economic standpoint, because, as I think you all know — our teams in Canada pay their players in U.S. dollars," Bettman said. "If the Canadian dollar drops, that will be an issue that we'll have to deal with. But I'm hoping we're focused on a moment in time, and these two great historical allies can get past where they are at the moment."
Rogers chief executive officer Tony Staffieri said the finances have worked out and will continue to work out with the new deal. Sportsnet says its revenue has more than doubled since 2013.
"The value of live sports content just continues to appreciate, and it's really rooted in viewership continuing to grow," he said. "If you look at our NHL deal over the last decade, viewership grew by 50 per cent.
"And with that kind of growth, what you see is revenue growing at a very steady and healthy pace in terms of advertising revenue, subscription revenue, and in the deal we have now, sub-licensing revenue. And so as we look to the next 12 years, we were very thoughtful in how we thought about the economics."
The NBA's U.S. rights deal went up 160 per cent from 2016 to 2025 and the NHL's U.S. rights deal increased by 213 per cent from 2011 to 2021. Rogers' deal is a 111-per-cent raise from 2014 to 2026.
The deal includes national rights across all platforms, including TV, digital, and streaming, for all national regular-season games, in all languages, as well as out-of-market rights for all regional games.
The announcement came with a promise of fewer blackouts, with Rogers Sports & Media President Colette Watson saying part of the negotiation involved opportunities to convert regional games into nationally-televised ones.
"We have secured the right for up to 10 more games on certain teams," she said. "But it will be a decision based on every season, based on matchups.
"So I can't really give you quantified numbers, but there is the opportunity to convert all of our regional games for the Canucks, the Flames, the Oilers and half of our Leaf games, our half, and a few extra games from the Winnipeg Jets and the Ottawa Senators."
"And you have unlimited rights to bring in U.S. matchups until your heart's content, or until fans' hearts are content," Bettman added.
It also includes national rights to all playoff games, the Stanley Cup final and all special events, in all languages. The agreement allows for strategic sub-licensing for a subset of the rights, including national French-language and a single-night exclusive national package.
Rogers currently sub-licenses its French content, in addition to sub-licensing its streaming rights to Amazon for Monday night games.
Staffieri said Rogers will "look to opportunities to continue to sub-license where it makes sense."
Rogers' deal with the CBC will be ending when the current rights deal is up. Watson said they still have to look into continuing its partnership with the CBC.
"We like our partnership and we value our partnership with the CBC and over the next 18 months we'll look to see if there's a continued partnership there," she said.
This report by The Canadian Press was first published April 2, 2025.
Companies in this story: (TSX:RCI.B)
Abdulhamid Ibrahim, The Canadian Press
