MLB, TBS sign billion-dollar extension

Major League Baseball has reached a billion-dollar deal with Turner Sports to continue broadcasting playoff games, according to a report by the New York Post.

The length and yearly breakdown of that money is not yet known. Turner pays $350 million per season under their current deal with MLB, and the Post suggested the new one could be for $500 million.

MLB and Turner's current contract runs through the 2021 postseason.

While MLB will not see any of that new money until the current deal expires after 2021, this news was broken at a less than ideal time for the league.

Earlier this week, Cardinals chairman Bill DeWitt Jr. claimed the baseball industry "isn't very profitable." That statement came as MLB and the players association are currently deadlocked in negotiations for how to compensate players for the 2020 season. Players want full prorated pay in 2020, per their March agreement. In MLB's last proposal, they offered to pay 83-percent of player salaries, on the condition there is a postseason. If there is not, the figure drops to 70-percent over 72 games.

Commissioner Rob Manfred has guaranteed a 2020 season, with owners believing he has the power to mandate one under the March agreement. If that happens, players would receive full prorated pay and the season would be about 50 games.

Under MLB's last offer, 70-percent salaries over a 72-game season comes out to the same money players would receive under Manfred's 50-game season at full pro rata. While MLB has submitted multiple proposals to the union, none have offered more guaranteed money than the floor that players would receive under that 50-game season.

Turner Sports is one of four homes for the MLB playoffs, alongside Fox Sports, ESPN and MLB Network. Turner will continue to broadcast one of the championship series in this new deal.