ESPN and the NFL are putting a ring on it – let’s hope that means a huge win for their viewers.
As originally reported by The Athletic last week, ESPN’s relationship with the league will become even more intertwined in the wake of Tuesday night’s announcement of a non-binding agreement in which it “will acquire NFL Network and certain other media assets owned and controlled by the NFL – including NFL’s linear RedZone Channel, and NFL Fantasy – in exchange for a 10% equity stake in ESPN.” The parties “are also entering into a second non-binding agreement, under which the NFL will license to ESPN certain NFL content and other intellectual property to be used by NFL Network and other assets.”
In addition to making more untold billions, the NFL also essentially divests itself of the costs associated with in-house broadcasting. Concurrently, its product gains even wider distribution and innovative benefits.
NFL Network will continue to broadcast seven games per season with ESPN reaping the benefits of that – notably to its pending direct-to-consumer service. NFL Fantasy Football and ESPN Fantasy Football will merge.
“This is an exciting day for sports fans,” Jimmy Pitaro, ESPN’s chairman, said in a statement.
