Golf, Business, PGA Tour, TV rights Discovery, PGA Tour reach $2 billion deal for international TV rights

Discovery, PGA Tour reach $2 billion deal for international TV, digital rights

DUBLIN, OH - JUNE 03: Tiger Woods talks with his caddie, Joe LaCava, on the second hole during the final round of The Memorial Tournament Presented by Nationwide at Muirfield Village Golf Club on June 3, 2018 in Dublin, Ohio. (Photo by Sam Greenwood/Getty Images) Sam Greenwood/Getty Images

Discovery, PGA Tour reach $2 billion deal for international TV, digital rights

Golf on TV

Discovery, PGA Tour reach $2 billion deal for international TV, digital rights

The PGA Tour and Discovery have agreed to a 12-year deal for world-wide golf TV and digital rights outside the United States.

The price tag on the deal is more than $2 billion, reports CNBC. Discovery owns Eurosport sports network, Animal Planet and the Discovery Channel.

Broadcast and digital rights within the United States and its territories remain unchanged and will remain with CBS and NBC/Golf Channel.

The cost of the international rights will grow as more national entities are added. Discovery is set to pay $50 million annually in 2019 and 2020 and another $100 million in 2021. Costs will increase through 2030. In addition, $20-30 million will be spent on marketing.

Eurosport spent $1.44 billion to buy the multi-platform rights for the Summer and Winter Olympics from 2018-2024.

Former DirecTV and NBA executive Alex Kaplan will oversee the PGA Tour coverage for Discovery.

“This is an exciting next step for the PGA TOUR, which presents a tremendous opportunity to accelerate and expand our media business outside the United States, better service our international broadcast partners, and drive fan growth with a deeply experienced strategic global partner,” said PGA Tour commissioner Jay Monahan, commissioner in a statement.

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