Bill Simmons is expected to renew his current deal with Spotify when it expires in February, according to two sources that spoke with Semafor. Simmons sold The Ringer to Spotify for $250 million in 2020 that came with a five-year contract.
Simmons has recently been engaged in long-term projects with Spotify that extend beyond his current deal.
Last year, the New York Post reported that Simmons had held “exploratory conversations with other companies about the possibility of launching a new platform.” Simmons had expressed frustrations with the corporate structure of Spotify along with his ability to add the talent he wanted.
The Ringer has recently hired the likes of Todd McShay, Kirk Goldsberry and David Jacoby.
