Stephen A. Smith, ESPN Reportedly 'Close' to Agreement on New Contract

ESPN and Stephen A.

Smith are reportedly close to terms on a new contract, per Brian Steinberg of Variety .

"The two sides, who have been in negotiations for several months, are said to be hopeful they can reach a deal over the next several weeks, according to a person familiar with the situation.

ESPN and Disney have been in talks with Smith to devise a new pact that could involve creating a sort of 'first-look' agreement for Smith-backed concepts across Disney's general-entertainment properties, according to this person and a second familiar with the talks." The 57-year-old Smith has been with ESPN since 2003.

He currently serves as a featured commentator/executive producer for First Take and an analyst on NBA Countdown .

Smith also contributes to ESPN's studio programming efforts for other sporting events.

Steinberg reported that Smith's contract "is said to expire in 2025." Per Isabella Simonetti of the Wall Street Journal , he's been previously offered $18 million per year to stay.

Steinberg also noted that deal would be a 50 percent pay increase from his current $12 million salary.

Per Eric Jackson of Sportico, that consists of an $8 million base salary and $4 million via "a separate production contract." "There's plenty of people who talk about the same topics that I talk about, but they don't have the same ratings," Smith said last March, during Sportico's Sports Track at South by Southwest.

Puck's John Ourand (h/t Michael Dixon of Awful Announcing) reported that Smith wants $25 million per year.

He spoke more on Smith's future last June on CNBC's Last Call .

An ESPN representative declined comment to Variety regarding news that Smith and ESPN are closing in on a deal.

And WME, which represents Smith, did not offer immediate comment either.

However, at this juncture, it's very possible that a lucrative deal for Smith will materialize soon..

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