New York, NY (SportsNetwork.com) - The National Basketball Association has extended its television contracts with ABC/ESPN and Turner Broadcasting through the 2024-25 season.
The previous agreements were set to expire after the 2015-16 campaign. The new contract begins with the 2016-17 season.
Financial details were not disclosed, but the New York Times reports the value to be more than $2.6 billion per year.
"With these new agreements, our fans will continue to benefit from the outstanding NBA coverage and programming provided by ABC, ESPN, TNT, NBA TV and their digital platforms," said first-year NBA commissioner Adam Silver in a statement Monday.
ABC will continue to broadcast the NBA Finals, while ABC and ESPN will share playoff coverage with TNT. The two entities will split the conference finals.
TNT's package will continue to include the All-Star Game and its surrounding festivities, while the regular-season coverage will increase by 12 games for a total of 64. The network will also air an awards show at the end of the season.
"This is a significant deal for our company and we are pleased to continue our long-standing partnership with the NBA, its fans, owners and players," said Turner president David Levy.
ABC/ESPN will add another 10 regular-season games for a total of 100. The ABC package will begin annually on Christmas Day.
"For ESPN, this agreement continues our fruitful, long-standing relationship with the NBA and bolsters what is already the sports industry's most impressive and impactful collection of media rights," said ESPN president John Skipper.
By the end of the new agreements, the NBA's partnership with Turner will reach 41 years, while the relationship with ABC/ESPN will extend to 23 years.
NBA TV will air more than 100 regular-season games each year, as well as up to nine postseason games.