NFL deals Red Zone, NFL Media assets to ESPN

Say it ain't so!!!!

NFL deals Red Zone, NFL Media assets to ESPN in blockbuster billion-dollar agreement: Sources

The NFL and ESPN reached a blockbuster agreement that will place many of the league’s top media holdings with the sports network in exchange for equity in ESPN that is potentially worth billions, sources briefed on the agreement told The Athletic.

An official announcement is expected next week. Disney, ESPN’s parent company, has its earnings call on Wednesday.

ESPN and the NFL declined comment.

The discussions about the monumental deal were on and off for four years and have resulted in what is said to be a complicated agreement, according to the sources. ESPN is expected to have access to RedZone, NFL Network, seven more regular-season games, the NFL’s fantasy football business, as well as the potential to integrate special features (including betting) and potentially more assets.

The agreement coincides with ESPN’s forthcoming direct-to-consumer service that will formally launch in the next few weeks.

The service, which will cost $29.99 per month, will allow subscribers to bypass cable or satellite providers to watch all ESPN programming, including live games, through ESPN’s app. Viewers who already have access to ESPN’s networks through cable, satellite or bundled streaming TV services will also be able to watch ESPN through the new app.

Disney/ESPN will likely announce an official release date for the revamped ESPN app and DTC service, which is called “ESPN,” next week. ESPN has marketed the service as the “Next Era” for the network.

Since ESPN began its planning for the new service, network executives have held talks with many potential partners from major leagues to top digital players, though the NFL has long been considered its top target. ESPN and the NFL already have a strong relationship. The network is the home of “Monday Night Football” and airs a total of 25 games per year. ESPN pays the NFL around $2.7 billion per year and has the rights to two Super Bowls in 2027 and 2031.

As evidenced by how long the discussions dragged on, the contractual language is said to be complicated. The NFL may receive up to 10 percent of ESPN equity, sources confirmed. That detail was reported previously by CNBC. There could be a term length to the agreement, according to one person briefed on the agreement, but it is not yet known how that will be prescribed.

The NFL has been looking to unload many of its NFL Media properties for years. NFL Network was started in 2003 and was looked upon as a potential competitor to ESPN. While it gained traction and distribution, it never became a full-blown alternative to ESPN, whose studio shows focus more attention on the NFL than any other sport.


NFL Network was plagued by cutbacks for years, even though the league is a multibillion-dollar juggernaut. ESPN is expected to invest in improving NFL Network programming, according to sources briefed on its plans.

In the ESPN family of networks, NFL Network could be looked upon similarly to the SEC Network. The SEC offers programming 24/7 about the league, while ESPN, the main channel, dedicates significant airtime to it as well. The same sort of setup, with on-air personalities being used across brands, is very possible.

For the NFL, the deal would divest the league from the TV production business and allow it to focus more intently on mining its core IP, all while acquiring a meaningful stake in one of its most important media partners, swapping the receding value of NFL Media for the higher growth potential of ESPN’s business; the NFL having a vested interest in ESPN’s financial health will seemingly increase the value of ESPN on its face.

The ESPN-NFL deal will require regulatory approval, which could take nine months to a year. If it goes into effect next season, it would be part of a big year for ESPN as the 2026-27 year ends with the network broadcasting its first Super Bowl. The game will also be on ABC, which Disney also owns.

RedZone is of particular importance to the deal. The idea of packaging it with ESPN’s existing channels — which already receive more than $10 per month from subscribers to cable, satellite and services like YouTube TV and Fubo — in forthcoming carriage negotiations is seen as vital. RedZone is a service that allows fans to see the live action of all the scoring opportunities during Sunday afternoon games from around the NFL. ESPN would be expected to make it available through its app, although how it would be priced is not yet known.

The NFL’s current media-rights deals to televise its games are worth more than $110 billion over 11 seasons. The league has opt-out clauses with its partners for the end of the decade. This agreement does not impact them.

For ESPN, the NFL has been instrumental in its dominance for years. As an eight-year-old network in 1987, it first secured rights to televise eight NFL games per season, which changed the trajectory of how many cable and satellite subscribers wanted to watch ESPN — along with how much ESPN could charge cable and satellite operators.

However, like all networks reliant on cable distribution, ESPN has been hit hard by cable-cutting and “cable nevers.” Cable-cutters stopped paying for the service, while cable nevers are made up of young people who have bypassed cable entirely. ESPN was in more than 100 million cable homes in 2011. Toward the end of 2024, that figure had dropped to 65.3 million, according to Nielsen.

ESPN had already started a direct-to-consumer service called ESPN+, which featured UFC fights, lower-tier college sports and a smattering of other offerings. The network said that the service has 22.5 million subscribers.

With the upgraded ESPN app offering all of the programming from its networks and ESPN+, it hopes first to stop the subscription-loss trend.