ESPN and the National Football League (NFL) have announced a non-binding agreement that will see ESPN acquire NFL Network and key media assets in exchange for a 10% equity stake in ESPN.
The proposed transaction, which includes the NFL’s linear RedZone Channel and NFL Fantasy platform, marks a significant realignment in US sports media. Under the terms, ESPN will assume ownership and operational control of NFL Network’s linear and digital rights, integrating the channel into its forthcoming direct-to-consumer (DTC) service alongside traditional pay-TV distribution.
In parallel, the NFL will license selected content and intellectual property to ESPN for use across the acquired assets. The deal is designed to expand reach, enhance consumer flexibility, and strengthen ESPN’s digital offering ahead of its DTC launch.
“This is an exciting day for sports fans,” said Jimmy Pitaro, Chairman of ESPN. “By combining these NFL media assets with ESPN’s reach and innovation, we’re creating a premier destination for football fans.”
The agreement also includes the merger of NFL Fantasy Football with ESPN Fantasy, creating the official season-long fantasy game of the NFL. ESPN will gain broad rights to the RedZone brand and continue distributing the RedZone Channel to pay-TV operators.
As part of the content reshuffle, ESPN will license three additional NFL games per season to NFL Network, which will continue to air seven games annually. Four games from ESPN’s existing schedule will shift to NFL Network.
The NFL will retain ownership of its core media businesses, including NFL Films, NFL+, NFL.com, the NFL Podcast Network, the NFL FAST Channel, and the official club websites. It will also continue to produce and digitally distribute NFL RedZone.
The transactions remain subject to final agreements, league approvals, and customary closing conditions. ESPN is 80% owned by ABC, Inc. (a subsidiary of The Walt Disney Company) and 20% by Hearst.
