The Tampa Bay Rays have been in the news a lot lately due to a number of questionable roster moves that appear driven by the team's limited budget.
On Monday, word surfaced might soon have more money with which to play. That's because the Rays and Fox Sports Net are nearing a long-term extension to continue their broadcasting relationship. Here's the finer details, courtesy of SportsBusiness Journal's John Ourand and Daniel Kaplan:
Fox's payout is expected to increase to around $50 million in 2019 under the new contract. Over the 15-year life of the deal, which would run through the 2033 season, Fox would pay, on average, around $82 million per year, sources said.
For reference, Ourand and Kaplan note the Rays are set to receive $35 million in 2018 as part of the final year of their current pact. The Rays, then, would be bringing him nearly $50 million more per season if such a deal is completed. Do the math on that and the Rays could well net more than $1 billion as part of a new agreement. Of course, there are some potential complications, including that Fox is selling its collection of regional sports networks to Disney. As such, the deal would need to be approved by regulators before it becomes official.
Presuming the deal gets done, the Rays will have secured a huge new revenue stream. How huge? The reported $82 million is roughly $5 million more than the highest opening day payroll in club history.
Add in the seeming progress made on the stadium front, and it's possible the Rays will have oodles of new cash available in the coming years. That windfall should allow the Rays to boast a bigger budget -- as it stands, they've finished 27th or lower in end-of-season payroll five years running -- which in turn should let them keep more of their talented players. In other words, the Rays shouldn't have to essentially dump the contract of an Evan Longoria, a Jake Odorizzi, or a Corey Dickerson because ownership is unwilling to foot the bill.
Whether or not that happens is anyone's guess. As the Rays' in-state brethren have proved this winter, there's no guarantee that conditions will improve just because the revenue streams do.
