Thursday Night Football will celebrate its 10^th anniversary in 2016 in a big and potentially costly way, especially for the broadcasters.

The NFL has announced that it will increase the number of games shown on Thursday nights to ten broadcasts next season with the NFL Network also broadcasting eight more games, bringing the total up to 18.

And while it is a win for the fans, it may not necessarily be a win for the networks broadcasting the games

Last year, CBS paid just under US$300 million for the rights for Thursday Night Football in the 2015 season. But next season, the new deal will be split between CBS and NBC for a combined $450 million.

Big deals like this are usually profitable for both broadcasters, however, Morgan Stanley analyst Benjamin Swineburn said that the deal might not be worth it in a recent report.

“We estimate CBS has lost over $200 million from this contract over the last two seasons (direct ad revenue, less rights fees and production costs),” the report reads.

CBS paid around $37.5 million for each game last year, and next season will pay nearly $45 million. But according to Swineburn and his staff, CBS and NBC will lose an estimated $21.5 million during each of their five broadcasts, totaling roughly $105.7 million in losses for both networks at the season’s end.

NFL Commissioner Roger Godell said it was apt that proven partners NBC and CBS were helping to make Thursday night football bigger and better.

“We are continuing to make Thursday Night Football bigger and better. CBS has played an integral role over the last two seasons in helping build Thursdays as a night for NFL football, and we’re excited to have them on board again,” he said in a statement.

“At the same time, we’re thrilled to add NBC to the Thursday Night Football mix, a trusted partner with a proven track record of success broadcasting NFL football in primetime, and look forward to expanding with a digital partner for what will be a unique tri-cast on the broadcast, cable and digital platforms,” Goodel added.

The NFL produces ratings that would have most broadcast companies watering at the mouth, but CBS and NBC have rolled the dice with this massive new deal, a gamble that might not pay off.