In a move poised to reshape the sports media landscape, ESPN and the NFL have reached a landmark agreement that will give the league a minority equity stake in the sports network in exchange for several of the NFL’s key media assets, according to a report from The Athletic.
While details are expected to be finalized and announced as early as next week — coinciding with Disney’s quarterly earnings call on Wednesday — sources close to the negotiations revealed to The Athletic that the NFL will receive up to a 10% ownership stake in ESPN. In return, ESPN gains control of several NFL-owned media properties, including RedZone, NFL Network, the league’s fantasy football business, and seven additional regular-season games.
The blockbuster deal also comes just weeks before ESPN launches its highly anticipated direct-to-consumer (DTC) streaming service, slated to cost $29.99 per month. The platform — branded simply as “ESPN” — will give fans the ability to access the full suite of ESPN content, including live games, without a traditional cable or satellite subscription.
This agreement has been years in the making, as both sides navigated fits and starts in negotiations spanning four years. The NFL has long sought to offload its media assets, which, while high in visibility, have failed to match ESPN’s reach. NFL Network, in particular, has faced budget cuts and limited growth despite its early promise as a potential ESPN competitor.
Under ESPN’s stewardship, sources tell The Athletic the NFL Network could mirror the structure of SEC Network — serving as a 24/7 companion outlet dedicated to NFL content while leveraging shared talent and resources with ESPN’s main programming.
“This deal gives the NFL a chance to divest from the production side and instead focus on monetizing its intellectual property,” one source told The Athletic. “And ESPN gets stronger distribution leverage heading into future carriage negotiations.”
RedZone’s inclusion is a pivotal part of the strategy. ESPN could bundle it into cable and streaming packages or offer it directly through the new app.
The NFL’s existing broadcast contracts — valued at over $110 billion — remain unaffected by this equity arrangement. However, the league retains opt-out clauses with media partners at the end of the decade, adding a layer of strategic flexibility.
With any agreement such as this, regulatory approval will be required, and that process could stretch into mid-to-late 2026. If completed in time, the integration of NFL Media into ESPN could be in full effect just ahead of the network’s first Super Bowl broadcast in February 2027.
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