BREAKING NEWS: NBA Announces New Television/Media Rights Deal

The NBA is going to announce their new television deal tomorrow morning (October 6th) at 10:00am EST.  The deal is expected to be an extension with both ABC/ESPN and Turner Broadcasting. The current deal was set to expire after the 2015-16 NBA season.

Both Fox Sports and NBC made an extremely strong push to gain access to this new money making machine that is the National Basketball Association, but it appears that it will not come to pass and we will not be able to hear Roundball Rock by John Tesh on Sunday Mornings.

The deal is expected to exceed $2 billion (I've heard rumors of $2.41 billion).

With the size of the NBA's financial pie more than doubling, what does that mean for Seattle, Louisville and expansion? We'll be covering everything tomorrow morning at 7:00am and cover how everything breaks down for Seattle, the Supersonics and potentially any other markets involved.

UPDATE 7:20 PM

Some reports on contract numbers starting to swirl around

#'s RT @RichSandomir: NBA to announce $24 billion/9 year deal w/ ESPN and TNT on Monday. Annual average value nearly 3x current deal.

— Chris Daniels (@ChrisDaniels5) October 6, 2014

RT @RichSandomir: Annual avg value of new NBA deal soars from about $930M to $2.66B. New deal starts after 2015-16 season.

— Chris Daniels (@ChrisDaniels5) October 6, 2014

Those are the kind of #'s that have to make new Clips owner Steve Ballmer happy... #ROI

— Chris Daniels (@ChrisDaniels5) October 6, 2014

NBA to announce $24 billion/9 year deal w/ ESPN and TNT on Monday. Annual average value nearly 3x current deal.

— Richard Sandomir (@RichSandomir) October 6, 2014

Annual avg value of new NBA deal soars from about $930M to $2.66B. New deal starts after 2015-16 season.

— Richard Sandomir (@RichSandomir) October 6, 2014

And a very interesting one from Nesgoda

From what I'm hearing there are expansion escalators in the new NBA TV contract.

— Kevin Nesgoda (@KDN4) October 6, 2014