There is also a deal for the LPGA
The PGA Tour has agreed a nine-year media rights deal with CBS Sport, NBC Sport, and ESPN.
The new agreement sees CBS and NBC keep coverage of the tour, with ESPN acquiring the digital rights for its ESPN+ service.
Variety reports that the deal is an increase of at least 70% on the current price, which was reported at $400 million (£304.7m), and runs from 2022 until 2030.
The pact will see CBS Sports and NBC Sports continue to show FedEx Cup tournaments, with NBC’s Golf Channel being the cable partner. Meanwhile, ESPN+ will take over the rights to PGA Tour Live – a subscription video service that had been partly offered by NBC Sports in the past. There will be four live channels available on the service.
The PGA Tour also negotiated a new deal of a similar length for the LPGA, that means it stays on the Golf Channel and has more events on CBS and NBC.
PGA Tour chief media officer, Rick Anderson, said: “All the major media companies are dealing with the changing landscape. The digital companies are getting more deeply involved in content, and I don’t think any of them know exactly how the business models are going to come out.”
“They have to have the best content, and live sports seems to be at the top of that food chain. We definitely felt that in the market.”
CBS Sports chairman Sean McManus commented: “The marketplace for golf advertising is very strong and it’s important to remember that the Tour delivers to its broadcast partners roughly 70% of the advertising in its underpinning deals with title sponsors and FedEx.”
“We know each year that 70% is pre-sold, if you will, and that’s a real advantage. It helps unwind any risk we would have and enables them to have a significant but fair rights increase.”