Sports Illustrated, one of, if not the most famous sports magazine in the business has made a huge move in the sports jobs field, signing long-time football writer and expert Peter King to a substantial deal.
The journalist has signed a three-year deal worth more than $1 million annually.
The exact numbers of the deal were not released by SI, but the deal is definetely a large sum. It is estimated to value between $1.2 million and $1.5 million annually, making him one of the highest-paid writers inside Time Inc. – who owns SI – today.
The magazine is also going to add incentives to the deal, such as the promise to launch a new football blog centered around King and supported by other, newly hired writers.
SI had to make the move, so they would avoid losing another star writing figure attached to their brand. Five and a half years ago reigning star, Rick Reilly, announced that he was leaving for ESPN and the move hit SI hard.
“I did consider five media options, including ESPN, but it came down to NBC or SI and loyalty to a place that has been so good to me since 1989 helped to make my decision to stay,” said King.
King’s old contract expired Feb. 28 and the writer had been putting off negotiating a new deal until after the NFL season.
Paul Fichtenbaum, the successor to former SI editor Terry McDonell was left to iron out the deal.
“It’s safe to say Peter is very nicely paid,” said Fichtenbaum.
Fichtenbaum also commented about the SI football site centered around King,
“It’s still in the planning stages. Right now, we’re just calling it Peter’s site.” He said he hopes to have it up and running by the time football training camps open in August.”
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