The National Football League (NFL), by far the most-watched program on television, signed an 11-year, $105 billion agreement with major networks, which began with the 2023 season. This agreement gave the league the option to renegotiate after several years. Additionally, since Paramount was acquired by Skydance Media last year, a change-of-control clause was activated, allowing the NFL to review its agreement. Paramount's new terms could serve as a model for the league's other deals with Fox, Amazon, Walt Disney's ESPN, and Comcast's NBC.
The NFL is renegotiating its television contract with Paramount. Paramount Skydance, the new owner of Warner, is renegotiating its broadcast agreement with the NFL, a move that could set a precedent for other networks, according to CNBC. The league is seeking an increase of approximately 50% over the $2.1 billion that Paramount currently pays. This would ensure that the parent company of CBS and Paramount+ could continue to air Sunday games through the 2033-34 season.
A trend is emerging in the sports world where former athletes are creating investment funds. For instance, Malcolm Jenkins, a Super Bowl champion with the Philadelphia Eagles, put his money to work by founding a company dedicated to investing in real estate and the sports industry. Pleasant/Rock, the company of the former NFL player (who will return to Mexico this year), has a portfolio of development projects exceeding $200 million and aims to reach $500 million in total investments by 2028. The fund's investments could include stakes in teams, emerging leagues, and sports technology.
In the real estate sector, Malcolm Jenkins' company will focus on properties adjacent to sports facilities; housing for workers; multifamily housing, and modular development. Malcolm Jenkins founded the company with Brian K. Hinds Jr., who has worked for financial firms such as UBS and JPMorgan. In 2021, he co-founded Broad Street Ventures, a venture capital firm led by Black athletes, which has invested in Airbnb and SpaceX. The two attended high school together in New Jersey, where the company is now building multifamily housing.
'In everything we do, we seek to generate a positive impact on the community,' Jenkins stated on Bloomberg's The Close. Jenkins, who retired from the NFL in 2022, is part of a growing trend of professional athletes creating investment funds.
