Stephen A. Smith Nets $8 Million Annual ESPN Contract

Scott Soshnick, Eben Novy-Williams and Michael Barr discuss a host of issues related to the business of sports, including Stephen A. Smith's new contract with ESPN that reportedly pays the sportscaster $8 million a year. It would make Smith, who is known for his bombastic deliveries on all sports topics, the highest-paid personality at the Walt Disney Co.-owned network. Also discussed is CBS Corp.'s acquisition of the U.S. broadcast rights to the UEFA Champions League, European soccer's biggest annual event. CBS will have the event for three seasons start in 2021, taking over when the existing deal with AT&T's Turner Broadcast ends. Univision is keeping the Spanish-language rights, which it has held since last year. The two networks are together paying a reported $150 million annually for the package -- that's about $50 million more than their current deals. And also touched on is Madison Square Garden Co.'s approval of a plan to spin off all of its sports teams, including the New York Knicks and Rangers. The plan would keep MSG's entertainment operations as a publicly held company with no equity interest in the sports business.

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