NHL agrees to 12-year, $5.2B rights deal with Rogers

Rogers signed a 12-year, $5.232-billion contract with the NHL on Tuesday for the exclusive national rights to all games, which is the largest broadcast agreement in the league's history. But this does not necessarily mean the end for Hockey Night in Canada - CBC will still broadcast Saturday games and TVA gets all French-language media rights thanks to a sub-licensing agreement. The deal still needs to be approved by the NHL board of governors, who are meeting on Dec. 9 and 10. 

"Our fans always want to explore deeper and more emotional connections to NHL hockey, and that is precisely what Rogers has promised to deliver over the next 12 years - channeling the reach of its platforms and the intensity of its passion for the game into an unparalleled viewing experience," NHL Commissioner Gary Bettman said in a release. "The NHL is extremely excited about the power and potential of this groundbreaking partnership."

According to Sportsnet, the payment will be made in annual installments starting at $300 million and ending at $500 million in the final year. Rogers must also pay $150 million "up front" to be spread over the first two years of the agreement.

Here is what you need to know: 

• The deal, which starts in the 2014-15 season, will expand Rogers' coverage beyond Canadian teams - Sportsnet's regional channels already show local action, but with this landmark contract, the company says it can feature more "marquee" match ups. 

• The rights to the NHL playoffs and Stanley Cup final will also exclusively belong to Rogers. Other events, like the NHL draft or All-Star Game, fit under this umbrella as well.

• Rogers will reportedly have "editorial control" over CBC's Hockey Night in Canada, including the hosts. What does this mean for Don Cherry's suits?

• Rogers will focus on providing online live streams and also will be in charge of NHL Center Ice and NHL GameCenter Live in Canada.

• They might own the rights to the HNIC theme song, but TSN will play no part in the 12-year broadcast deal. However, the network does have regional rights to the Jets and Canadiens. There is also talk that CBC could face layoffs because of Tuesday's announcement now that Rogers is taking over.