Despite recent comments from Warner Bros. Discovery CEO David Zaslav about “not need[ing] any more sports,” TNT Sports is reportedly looking to continue its shopping spree after losing its NBA rights.
Appearing on John Ourand’s The Varisity podcast on Sunday, TNT Sports CEO Luis Silberwasser suggested that his company is interested in two of the only major live sports packages currently on the market: UFC and Formula One.
“We like both,” Silberwasser told Ourand. “UFC is a fantastic property and has piqued our interest. Formula One, as well. Given our experience with sports internationally, we know the passion for Formula One. And we know that in this market, it has grown and it has great potential as well.”
UFC, of course, is about to exit its exclusive negotiating window with incumbent media rights partner ESPN. It’s widely believed that UFC will likely split its rights between multiple media partners in a new deal. Netflix, with its relationship with UFC parent company TKO via WWE’s Monday Night Raw franchise, has emerged as a front-runner for a package with the MMA promotion, though there are many other interested parties.
It’s possible that TNT might be interested in a smaller, more economical package, more in line with its recent live sports acquisitions. Recently, TNT Sports bought rights for a small package of NASCAR races, a pair of first round College Football Playoff games, low-profile Big 12 and Big East contests, the French Open, and the FIFA Club World Cup. None of those are break-the-bank level properties, but all of them together help make up for the void left by the NBA. And with enough of these smaller properties, TNT has been able to maintain an acceptable price from cable and satellite distributors like Comcast.
In this spirit, TNT could prove more of a contender for UFC’s Fight Night inventory rather than the marquee pay-per-view events that might be more attractive to a Netflix or Amazon who have more money to throw around.
Formula One, on the other hand, has also reportedly fallen out of favor with ESPN and is searching for a new media rights partner. ESPN currently plays in the high eight-figures for the racing circuit which, again, is on the more affordable end of the live rights spectrum. However, Formula One is seeking a significant increase over its current media rights fee and hasn’t exactly drawn gangbusters viewership on ESPN over the course of its agreement.
At this point, with TNT Sports already having inked key multiyear distribution deals with some of the largest cable and satellite companies in the country, there’s less incentive to add frivolous sports rights since it won’t directly translate to increased carriage fees. In fact, as was alluded to earlier, WBD CEO David Zaslav recently said “we don’t need any more sports,” when asked about the company’s interest in more live rights.
So when looking at the big picture, TNT Sports doesn’t necessarily strike all the notes that a serious contender for UFC or Formula One rights would. But it’s clearly too early to rule them out based on Silberwasser’s comments, especially if an economical option presents itself.