The NBA has reached an agreement on a new television deal with ESPN and TNT to retain all the rights.
The deal will take effect starting with the 2016-17 season. ESPN and TNT will continue to air NBA games through the 2024-25 season. The announcement was made by NBA Commissioner Adam Silver and ESPN president John Skipper.
"With these new agreements our passionate fans will continue to benefit from the exceptional coverage provided by our partners," Silver said at a news conference in New York.
The New York Times reports the deal's value is at more than $2.5 billion per year. TNT has been covering the NBA since 1988.
LeBron James signed a 2-year deal with the Cleveland Cavaliers this offseason, many believe its because players around the league feel the NBA cap will increase due to new television deals, in which would allow James to make more than he could now if he signed a max deal. This new television deal is the first step of that happening.