The NFL has finalized a deal giving it a 10% ownership in Disney's ESPN, enhancing their long-term relationship. In exchange for the stake, ESPN will gain control of the NFL's cable properties, including the NFL Network and Red Zone, which provides real-time updates for Sunday games. This arrangement positions ESPN favorably ahead of its direct-to-consumer streaming initiative. ESPN Chairman Jimmy Pitaro emphasizes the deal's potential to engage fans in new ways, addressing the decline in ESPN's cable reach due to increased cord-cutting.
This is an exciting day for sports fans. By combining these NFL media assets with ESPN's reach and innovation, we're creating a premier destination for football fans. 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.
In return for the equity stake valued at more than $2 billion based on recent valuations of the company, ESPN will take over the NFL's cable properties including the NFL Network and Red Zone, the popular channel that continuously updates fans on the slate of Sunday contests.
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