NBA, NBPA reach reported $1.1B licensing agreement with NBA 2K
Kevin Mazur / Getty Images Entertainment / Getty

The NBA and the National Basketball Players' Association have signed a multi-year licensing agreement extension with Take-Two Interactive Software Inc., creators of the NBA 2K video game series, the league announced Tuesday.

The new deal is worth as much as $1.1 billion over seven years, Sarah E. Needleman of the Wall Street Journal reports.

The extension will allow Take-Two to continue using players' likenesses for its NBA 2K games. The NBA also has a licensing agreement with Electronic Arts Inc. for its NBA Live series.

"An entire generation of basketball fans engage and connect with NBA teams and players through NBA 2K," NBA commissioner Adam Silver said in a statement. "We are grateful to extend our partnership with Take-Two and the NBPA to build on the enormous popularity of the NBA 2K franchise and the continued global growth of basketball."

NBA 2K19 was the top-selling sports video game in the United States last year as of November, according to NPD Group. The previous installment, NBA 2K18, set a series record with 10 million units sold.

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NBA, NBPA reach reported $1.1B licensing agreement with NBA 2K
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