The Phoenix Suns and Phoenix Mercury are thrilled to announce … They’ve renewed their free over-the-air television contract for another two years in Arizona markets. This landmark deal is valued at more than $30 million per season. It marks a turning point for both franchises as they move away from traditional local media rights.
On the court, in 2023 the Suns and Mercury upended the status quo in the NBA. In the process, they became the first teams to cut ties with their despondent regional sports network accomplice, Diamond Sports. In doing so, they chose to move away from a decades-old partnership, and it’s been worth it. They’ve been able to sign a new local media rights deal that almost replaces what they’ve lost with the previous deal.
ESPN reveals the blindingly-fast shift in the local television money machine here. In fact, over the next two years, 18 of the 30 NBA teams’ RSN deals are set to expire. The league is actively seeking to create more options for fans, both through traditional over-the-air broadcasts and modern streaming platforms. More importantly, this proactive approach meets the greater challenge that teams across the league are feeling the pressure to do more with less. In addition, the New York Knicks just recently reached a $41 million reduction of their local TV agreement for the 2025-26 season as part of a refinancing deal with MSG Networks.
On top of that, the NBA has recently reduced their initial estimates for their salary cap figures this season. This amendment follows the pattern of the decline in local TV revenue. Even with these heavy-handed adjustments, Suns owner Josh Ishbia would like the future to seem bright. He said he’s been in touch with other team owners about how they can collectively shift to new realities in the market.
“Everyone wanted to wait-and-see, it’s a big thing to take less (local television) money or even no money and trust it,” said Ishbia. And he spoke to making sure all fans, especially underserved community members, had exciting access.
“It’s been a win-win. It was about doing right by the fans and getting the games into more fans’ hands. And when you make it possible to grow your fanbase, everybody wins.” – Mat Ishbia
This year is the beginning of a new national media rights deal that’s valued at $77 billion over 11 years. This agreement is sure to propel unprecedented revenue growth for all of professional basketball’s foremost league. The Suns and Mercury’s strategic decisions appear to align with this larger trend, positioning them well within the league’s evolving framework.
Both teams can’t wait to make more history in greater success on and off the court. As a result, they are putting more strategic focus on ways to improve fan experience. The recent developments in their media rights agreements signify a forward-thinking approach that could serve as a model for other franchises facing similar challenges.
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