ESPN will acquire NFL Network and other media assets from the National Football League in exchange for the league taking a 10% equity stake in the all-sports network as part of a landmark agreement, the two sides announced on Tuesday.
“Today’s announcement paves the way for the world’s leading sports media brand and America’s most popular sport to deliver an even more compelling experience for NFL fans, in a way that only ESPN and Disney can,” Disney CEO Robert Iger said in a statement.
NFL Network will be owned and operated by ESPN, which will control the network’s linear and digital rights. NFL Network will be available to customers who pay for cable or satellite TV and will also be added to ESPN’s upcoming direct-to-consumer streaming service set to launch this fall, offering access to ESPN’s portfolio of professional and college sports.
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Under the deal, ESPN will also acquire the NFL’s fantasy product and merge it into its existing platform, ESPN Fantasy Football. ESPN will also acquire the rights to distribute the RedZone channel to cable and satellite operators. The NFL will continue to own, operate and produce the RedZone channel and will keep the rights to distribute it on digital platforms.
“By combining these NFL media assets with ESPN’s reach and innovation, we’re creating a premier destination for football fans,” ESPN chairman Jimmy Pitaro said in a statement. “Together, ESPN and the NFL are redefining how fans engage with the game — anytime, anywhere. This deal helps fuel ESPN’s digital future, laying the foundation for an even more robust offering as we prepare to launch our new direct-to-consumer service.”
The two sides still have to negotiate a final agreement and receive approval from NFL owners. The agreement is subject to regulatory approval and no value was provided.
ESPN platforms will also license three additional NFL games each season, bringing its total to 28. NFL Network will continue to air seven games per season, with some games moving to NFL Network from ESPN’s original schedule.
The league will also continue to own and operate some of its media assets, including NFL Films and NFL.com.
“Since its launch in 2003, NFL Network has provided millions of fans unprecedented access to the sport they love,” NFL commissioner Roger Goodell said in a statement. “Whether it was debuting Thursday Night Football, televising the Combine, or telling incredible football stories through original shows and breaking news, NFL Network has delivered. The Network’s sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways.”
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The new ESPN streaming service could launch as early as this month, costing $29.99 per month. It will provide access to various sports leagues, including the NFL, NBA, WNBA, MLB and the NCAA Women’s Basketball Championship, as well as shows such as “SportsCenter” and “Pardon the Interruption.”
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