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CSN Mid-Atlantic renews Monumental rights in multi-layered deal

The Comcast SportsNet Mid-Atlantic regional broadcaster has renewed rights for games featuring the Washington Capitals NHL ice hockey franchise and the Washington Wizards NBA basketball team.

As part of the deal, the franchises’ parent company, Monumental Sports & Entertainment, will become an equity shareholder in CSN Mid-Atlantic, which is part of NBC Sports. The Washington Post newspaper said that the deal will give Monumental a stake of about one-third in the broadcaster. The Washington Business newspaper said that the agreement would run until the end of the 2031-32 season.

In return, NBC Sports Group will acquire an undisclosed shareholding in Monumental Sports Network, the regional broadcaster launched by Monumental’s majority owner and chief executive, Ted Leonsis. The MSN platform will soon launch an OTT subscription service that will offer live streaming of the Women’s NBA basketball league, the Arena Football gridiron competition and NBA D-League basketball games.

Monumental will take two of the six seats on the CSN Mid-Atlantic board, while NBC Sports Group will have two of the six seats on the MSN board.

Reports have suggested that the rights fee for Capitals coverage will increase from $13m (€11.8m) to an average of $28m per season, with the average fee for Wizards coverage increasing from $17m to $35m per season.

The agreement requires the approval of the NHL and NBA.

CSN Mid-Atlantic will continue to offer live coverage of all non-nationally exclusive Capitals and Wizards regular-season and play-off games, as well as selected pre-season games. The deal covers television and digital platforms.

CSN Mid-Atlantic also shows coverage of the NFL American football league’s Washington Redskins and Baltimore Ravens.