The single biggest off-ice issue for the Washington Capitals has now been resolved. John Ourand of the Sports Business Journal reports that the Caps’ parent company, Monumental Sports and Entertainment, has a handshake deal in place with NBC Sports for 15 years of television rights. The deal would more than double Monumental’s take from their current deal, up from $13 million to $28 million. The deal also reportedly would give MSE 33-percent equity in CSN Mid-Atlantic, the regional sports network that airs nearly all Capitals and Wizards game.

The deal, in short, would be a windfall for Ted Leonsis and the Capitals.

According to Ourand, the deal has not yet been signed.

MSE has been in negotiations with Comcast/NBC for years about a new deal. Television rights are an important revenue stream for sports teams and their ownership companies, with some companies going as far as creating their own networks to reach customers, such as New York teams’ MSG TV. The Caps’ current deal with Comcast Sports had not been nearly as lucrative as their peers’.

The Capitals’ recent forays into digital media could be seen as the start of the team taking over its own television coverage or a move for leverage in negotiations. Either way, it worked. The Caps would have increased control and equity over the on-air product as well as a healthy revenue stream that would reach through 2030. By not going direct-to-consumer just yet, MSE would also avoid burning bridges with one of America’s biggest sports broadcasters.

This is a very big win for the Caps, Monumental, and Ted Leonsis.