NFL, ESPN Reach Nonbinding Deal For Sale of NFL Network, Other Assets

Nearly five years after the NFL announced it was looking to sell NFL Network and other media assets, ESPN—long seen as a top contender—has a framework deal in place, Joe Reedy reported for the Associated Press (AP).

The NFL and ESPN still need to negotiate a final agreement, secure approval from NFL owners, and pass regulatory review. (Photo: Philadelphia Eagles Facebook)

The NFL announced that it has entered into a nonbinding agreement with ESPN. Under the terms, ESPN will acquire NFL Network, NFL Fantasy, and the rights to distribute the RedZone channel to cable and satellite operators.

In exchange, the league will get a 10% equity stake in ESPN.

The NFL and ESPN still need to negotiate a final agreement, secure approval from NFL owners, and pass regulatory review.

“Sometimes great things take a long time to get to the point where it’s right. And we both feel that it is at this stage,” NFL Commissioner Roger Goodell said in a call with the AP.

In addition to the sale of NFL Network, the NFL and ESPN will have a second nonbinding agreement in which the league will license certain NFL content and other intellectual property to ESPN for use by NFL Network and the other assets being acquired.