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The NBA’s Phoenix Suns announced Friday that they will air local coverage of their games on over-the-air television and via a direct-to-consumer streaming service, a unique operation that could shape the future of sports television The industry navigates the chaotic bankruptcy of one of its titans.
Suns stars Kevin Durant (left) and Devin Booker.
Getty Images
Important facts
Beginning next regular season, all local Suns games will be available for free across Arizona on satellite television through broadcaster Gray Television and through its new streaming app developed by live video startup Kiswe.
The Suns are the first team in any of America’s four major sports leagues to ditch cable television, a decision hastened by the March bankruptcy of the regional broadcaster, which owns the rights to Suns games and about half of the other NBA, Owned MLB and NHL games.
The WNBA’s Phoenix Mercury, also owned by Suns new billionaire Mat Ishbia, will also air its games on free Gray stations and via the streaming offering.
Financial details of the deal were not disclosed; The Mercury-Gray agreement will last two years, while the Suns agreement will last five years.
key background
Diamond Sports Group, parent company of cable network chain Bally Sports, filed for Chapter 11 bankruptcy on March 15, jeopardizing the futures of dozens of its pro sports team affiliates. Fluctuations in local cable deals have coincided with a meteoric rise in the cost of national media rights deals, and regional sports deals are a crucial part of teams’ revenues.
Surprising fact
The Suns are likely to sacrifice millions of dollars in revenue as they switch to the new broadcast model: In February, an anonymous NBA exec told Sports Business Journal he expected annual local game revenue to increase from about $35 million to $8 by the move Millions of dollars would go down to a direct-to-consumer option.
Forbes rating
Ishbia is worth $7 billion, according to Forbes estimates, and is building his fortune in the mortgage business. He agreed to buy the Mercury and Suns in December for $4 billion, the largest sum ever paid for an NBA team.
Further reading
In the face of financial turmoil at Bally Sports Networks, the big leagues are preparing for a wireless future (Forbes)
Meet new Phoenix Suns owners Mat and Justin Ishbia (Forbes)
The Phoenix Suns could herald the future of regional sports TV deals (Hollywood Reporter)
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I’m a New Jersey-based senior reporter on our newsroom. I graduated from Duke University in 2021, where I majored in economics and worked as a sports editor for The Chronicle, Duke’s student newspaper. Send tips to [email protected]
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