Tony Romo is re-signing with CBS Sports in a deal that will make him the highest-paid sportscaster in history.
Romo will make an estimated $17 million a year under a multi-year contract extension worth more than $100 million. The former Cowboys quarterback turned down a blockbuster offer from ESPN that would have paid him as much if not more than CBS, sources said.
“I can confirm a long-term contract extension with Tony Romo,” CBS’ Jenn Sabatelle said. The network will broadcast Super Bowl LV in Tampa, Florida, in February 2021.
Romo’s initial contract with the network was valued at $3 million annually and expired after the 2019 season. CBS secured the right to match any competitors, which proved valuable when ESPN was prepared to pay between $10 and $14 million a year for Romo.
News of the revised agreement was first reported by the New York Post’s Andrew Marchand on Twitter.
Romo’s historic deal could reshape the industry at time when the NFL’s tv contracts near expiration. CBS pays the league nearly $1 billion a year under its current deal, which expires in 2022 . Fox and NBC also have contracts expiring that year, while ESPN’s deal concludes after 2021.
“You better believe Troy Aikman (of Fox) and Cris Collinsworth (of NBC) are watching this closely,” a source said. “Not to mention (play-by-play partner) Jim Nantz.”
Romo’s annual CBS salary will pay him more money than all but two of his 14 NFL seasons with the Cowboys. Romo made $127,422,458 in salary and bonuses during his playing career, according to Spotrac.com, though he never made more than $8.5 million in salary in a single season.