The San Diego Padres and FOX are close to announcing a new TV deal that could earn the team between $25-30 million a season according to John Maffei of the North County Times.

A source with knowledge of the situation said that the new deal would be a sizable increase over what the team is currently receiving from Channel 4 San Diego.

The deal will likely be for 20 years and it could be announced before the end of the month.

Earlier this month Padres’ CEO, Jeff Moorad said that negotiations toward a new local television deal will have a “direct impact” on the Padres’ 2012 payroll.

Moorad declined to estimate the extent his payroll could grow, but he has repeatedly pledged that the Padres would reinvest all revenue beyond expenses in the product on the field and Petco Park.

Image by JayBuffington under the Creative Commons License.