Executive producers Mark Burnett and Jeffrey Katzenberg have extracted revenue from so many different sources on "The Contender" that the boxing-themed reality series could be more of a business than a TV show.

Regardless of its ratings when it begins its run March 7 on NBC, "Contender" appears to be Burnett's biggest money-making enterprise for a new show, industry executives said. Revenue streams for Contender Partners Llc. -- a joint venture between Mark Burnett Prods. and DreamWorks Llc. -- include the sale of NBC ads, an equity stake in boxing brand Everlast as well as more traditional product integration fees, ticket sales for the "Contender" boxing finale at Caesars Palace in Las Vegas and future rights to the fighters who star on the show.

Burnett also shares in half the ad revenue generated by a "Contender" site housed on Yahoo! and cut a multiyear, multishow deal with "Contender" sponsor Home Depot for integration into five shows, including "The Apprentice 3."

In addition to getting a traditional license fee of close to $2 million from NBC, Burnett and Katzenberg are said to have obtained the rights to sell six commercial spots per episode. NBC sold the spots to Contender Partners at an undisclosed base price, giving Burnett and Katzenberg the opportunity to sell them at a profit to sponsors Home Depot, Gatorade, Sierra Mist and Toyota, which is said to be spending more than $11 million on ads alone.

Burnett's deal with NBC also handed Contender Partners all the integration fees paid by advertisers, which were said to be in the low-six-figure range -- significantly less than the reported $2 million per integration paid by brands on "Apprentice." Burnett said the integration fees were significantly higher for "Apprentice" because entire episodes focused on a product or brand, giving advertisers much more screen time. Toyota reportedly paid a total of about $4 million for integration throughout the "Contender" series.

In addition to receiving cash-integration fees, Burnett and Katzenberg struck a deal with boxing equipment and athletic apparel supplier Everlast for stock warrants worth about 5% of the company. Gary Dailey, chief financial officer at Everlast, said the warrants were worth a few hundred thousand dollars at the time the deal was made but are worth about $1.5 million at current stock prices -- and could be worth much more if "Contender" is a hit.

If "Contender" returns to NBC with at least 10 new shows for a second season, Burnett and Katzenberg will pick up warrants for another 5% stake in Everlast, and the same goes for a third season, which wound give the producers a total equity interest of 15% in the company.

In exchange for giving Burnett a piece of the company, Everlast will be the exclusive supplier of boxing equipment, active wear, T-shirts and shoes for "Contender" and be featured prominently in every episode. Everlast, which is not buying ads during the show, also will unveil a line of sports apparel, shoes and equipment branded with "As Seen on 'The Contender' " hangtags that will be sold exclusively in about 500 Foot Locker stores. Burnett also gets licensing royalties on the sale of "Contender"-branded Everlast product.

Contender Partners Llc. owns the rights to all 16 boxing contestants, who were reportedly selected through a nationwide search of the most promising talent. Burnett said that after "Contender" airs, he and co-promoter Brian Edwards of DreamWorks will choose which boxers they want to work with.

Contender Partners also will take a significant cut of ticket sales for the "Contender" finale, a Nevada State Boxing Commission-sanctioned fight at Caesars Palace. With the venue at Caesars Event Center able to accommodate about 6,000 people for the fight, the bout could prove to be another windfall for Burnett and Katzenberg.