If NBC Sports decides to air NBA games again, composer John Tesh may sell back the rights to 'Roundball Rock'.

• John Tesh, a composer, discussed with CNBC the process of NBC acquiring the rights to "Roundball Rock" if it is aired during NBA games again.
• Sources reported that Warner Bros. Discovery is facing competition from NBCUniversal for a collection of games.
• Since the 2018-19 season, "Roundball Rock" has been used by Fox for its college basketball games, but the agreement does not prevent the song from being utilized by NBC for NBA games, as stated by Tesh.

"Roundball Rock," John Tesh's anthem for National Basketball Association games on NBC until 2002, is widely considered the greatest theme song in the pantheon of TV sports.

If NBCUniversal acquires the rights to broadcast the NBA, it may have the opportunity to revive the renowned melody, the composer stated in an email to CNBC.

NBCUniversal has made a $2.5 billion annual offer to regain NBA rights, which it lost 22 years ago to Turner, according to sources. The Wall Street Journal first reported the details of NBC's bid.

The NBA is close to deals with Disney and Amazon for two of the media packages, and the third one is likely to go to either Turner or NBCUniversal, but not both, said sources who requested anonymity due to the confidential nature of the discussions.

Warner Bros. Discovery is still in negotiations with the league to retain the rights, but NBCUniversal's offer is more than double the current $1.2 billion payment. However, Warner Bros. Discovery's market capitalization of $18 billion is significantly lower than NBCUniversal's $150 billion, which may make the offer too expensive for them.

David Zaslav, the CEO of Warner Bros. Discovery, has emphasized financial prudence since taking charge of the company, through cost-cutting measures such as job reductions and reduced spending on content, in order to decrease debt and increase free cash flow. Despite his disinterest in the "rental business" nature of licensing sports rights, he has expressed hope for retaining NBA rights.

Representatives from Warner Bros. Discovery, NBC, and the NBA refused to provide comment.

The rights to 'Roundball'

"The NBA on NBC" and the era of Michael Jordan, the Chicago Bulls' dominance, and the voices of Bob Costas and Marv Albert are all associated with "Roundball Rock" by nostalgic NBA fans. This theme was ranked No. 1 in a 2017 USA Today ranking of "The 25 greatest sports TV themes." The Ringer published an oral history article about its origin, and NBC's "Saturday Night Live" did an entire sketch about it.

Since 2002, the song has not been used to introduce an NBA game on NBC. Now, Fox Sports uses the tune for college basketball in the 2018-19 season, but many fans still associate it with NBC.

Tesh, the composer of "Roundball Rock," has stated in an email that if NBC Sports wins the rights, they are free to license the song again.

Tesh stated that Fox's deal for "Roundball Rock" does not prevent any media company from utilizing the song during NBA games.

Tesh said that media companies usually purchase the rights to a song in three-year intervals. He refused to disclose the amount he was paid because the contracts contain non-disclosure agreements. However, Tesh mentioned that he also receives royalties based on the number of times the song is played. The Ringer reported in 2020 that Tesh's jingle was played an estimated 12,000 times during the 1990 to 2002 era on "NBA on NBC."

"It's amusing how individuals now passionately advocate for the song, despite it initially being a mere background tune in 1990. Today, the internet is brimming with individuals playing the song on Ukulele, Casios, and sharing instructional videos on guitar. We continue to perform the song at every concert and display YouTube clips of these enthusiasts."

The NBA will air on NBC again in the 2025-26 season, and "Roundball Rock" will be available.

— CNBC's Lillian Rizzo contributed to this report

— Disclosure: Comcast is the parent company of NBCUniversal and CNBC.

WATCH: Fight for the NBA: NBC vs. Warner Bros. Discovery