Two months after announcing the relocation plans, Eli Velázquez, EVP Sports, Hispanic Enterprises and Content, and César Conde, Chairman of NBCUniversal Telemundo told staffers on Friday that efforts to move the sports operations were canceled.
An inside source says the company realized the cost of uprooting and moving the entire sports team, hiring staff to replace those who would not relocate, and setting up operations in Stamford exceeded their calculations and would be too expensive to warrant the move.
The execs told staffers they’ll still be able to work closely with NBC Sports and tap their resources without requiring their physical presence in Stamford.
Since the move was planned for the first quarter of 2016, no employees had yet made the move to Connecticut.