LA Galaxy Sign Huge Deal with Time Warner Cable

Major League Soccer’s LA Galaxy has reached a broadcast agreement to jump from Fox Sports West to Time Warner Cable’s fledgling regional sports channels accomodating the English and Spanish fans.

The 10-year deal is valued at $55 million for an undetermined number of the games. The Galaxy said it will lose money this season despite advancing to Sunday’s Major League Soccer championship game with the league’s best record.

The value of the regional contract dwarfs the three-year, $30-million contract between MLS and NBC.

Although the Galaxy has been the league’s marquee franchise since signing David Beckham before the 2007 season, it has not been a ratings winner for FSW, never drawing more than 16,000 homes -– a .28 rating. In the last few years, ratings have dropping as low as .11%.

Fox, which has been paying from $300,000 to $500,000 for the Galaxy’s rights, carried 19 Galaxy games this year.

Of greater consequence is the fact that the Galaxy is the second pro team to jump to  Time Warner Cable, following the Lakers, who last February signed a 20-year broadcast deal valued at $3 billion.

Time Warner Cable is also expected to pursue the Dodgers. The Dodgers’ current contract with Fox forbids them from talking to any other broadcast outlet until Nov. 30, 2012, but outgoing owner Frank McCourt has asked the U.S. Bankruptcy Court to let the Dodgers solicit bids now, from Time Warner and any other interested parties.