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[NHL] XM Satellite Radio & NHL Sign 10 Year Deal


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XM SATELLITE RADIO AND NATIONAL HOCKEY LEAGUE ANNOUNCE LONG-TERM AGREEMENT

XM To Begin Broadcasting NHL Games In October 2005

NHL Chooses XM As Its Exclusive Satellite Radio Network Starting in 2007

Washington D.C., September 12, 2005 -- XM Satellite Radio (NASDAQ: XMSR), the nation's leading satellite radio service with more than 4.4 million subscribers, and the National Hockey League (NHL) today announced a 10-year, $100-million agreement that makes XM the exclusive satellite radio network of the NHL beginning with the 2007-2008 season.

XM will begin broadcasting NHL games with the launch of the new 2005-2006 season and will become the League's exclusive satellite radio broadcast partner in 2007.

In addition to providing live play-by-play coverage of more than 1,000 games per season, XM will create a dedicated NHL radio channel featuring original programming that will focus on all aspects of the sport. NHL games and the NHL channel will be available in Canada through XM's partner, Canadian Satellite Radio (CSR), which is funding a portion of the agreement. CSR has been awarded a license to distribute satellite radio in Canada, as recently approved by the Federal Cabinet.

"We are thrilled about the National Hockey League's decision to partner with XM Satellite Radio," said Hugh Panero, President and CEO of XM Satellite Radio. "The clear winners of this partnership are the millions of hockey fans here in the U.S. and in Canada who are incredibly passionate about their favorite NHL team, and who will now be able to follow them regardless of where they call home."

"We're delighted to have XM as our newest satellite radio partner," said NHL Commissioner Gary Bettman. "At this exciting time in the League's history, a new partnership with XM allows us to offer hockey fans unprecedented NHL coverage on the nation's largest satellite radio service."

XM's comprehensive coverage of the NHL will include games from every team, as well as the NHL All-Star Game, the Stanley Cup Playoffs and the Stanley Cup Final. XM will start its NHL schedule with sweeping coverage of Opening Night on October 5, 2005.

Panero continued, "XM and its Canadian partner CSR are excited to participate in the resurgence of this great sport."

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Holy crap....way to waste money on a league on life support. :o

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The owners don't seem to think so. They're still signing guys to fairly big money and multi-year contracts. Considering that there are no guarantees that revenues will exceed expectations which could result in an even lower cap next year, these multi-year contracts are a bit of a gamble.

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