While the agreements will now be sent to the league’s governors for approval, the confirmation of new contracts could be delayed if Warner matches rival offers in last attempt to retain rights.
The National Basketball Association is in talks with Comcast, The Walt Disney Company and Amazon to close deals that could more than double the league's revenue to $8.5 billion per year.
The yet-to-be-named service would offer an all-in-one package of programming that would include television channels, such as ESPN, TNT, and FS1, and streamed sports content.
As a result of the changes, Alan Bergman and Dana Walden will serve as Co-chairs of Disney Entertainment, and ESPN, which includes all ESPN networks and ESPN+, will be led by Jimmy Pitaro.