Rogers Communications and the National Hockey League officially announced a 12-year agreement for the league’s national media rights in Canada. The CA$11 billion deal ($7.7 billion based on current exchange rates) begins with the 2026-27 season.
On Monday, Sportico broke the news that the two sides had extended their relationship.
The total and per-year averages are more than double the league’s current 12-year agreement with Rogers, which was signed in 2013. That deal was worth CA$5.2 billion, or $4.9 billion based on the exchange rate at the time, but the total is now $3.6 billion based on today’s rates.
The agreement gives Rogers rights in Canada to all regular-season and playoff games in all languages, as well as out-of-market rights for all regional games and special events for the league.
The pact allows for a “strategic sub-licensing for a subset of these rights.” Those possibilities include French-language and a single-night exclusive national package. The sub-license deals could increase the total deal value for the NHL.
Last year, Rogers signed a deal for Amazon’s Prime Video to stream games on Monday nights this season and next. Streaming viewership for the Monday Prime games has been strong and attracted a younger audience to games for the 2024-25 season. The sub-license option is not limited to just streaming and could include a linear broadcaster, such as longtime Rogers competitor BCE.
The new media agreement is expected to be “accretive to Rogers shareholders” and continue to “drive profitability for Rogers Sports & Media from the outset,” according to the announcement.
On Tuesday, Rogers Communications’ stock fell 5.9% on the Toronto exchange as investors weighed the NHL broadcast renewal and a ratings downgrade from Scotia Capital. Rogers’ stock is at its lowest level since 2012.
Rogers’ sports assets include MLB’s Toronto Blue Jays and 37.5% of Maple Leaf Sports & Entertainment, the parent of the NHL’s Toronto Maple Leafs, NBA’s Toronto Raptors and MLS’ Toronto FC. It is in the process of acquiring the 37.5% of MLSE owned by BCE at a CA$4.7 billion ($3.3 billion) valuation.
The NHL’s U.S. TV deals are with ESPN and Turner and run through the 2027-28 season. They pay the NHL more than $600 million per year on average.
With assistance from Eben Novy Williams.
