ESPN and NFL Make it Official: NFL Network Headed to ESPN in Exchange for 10% Equity Stake ESPN also acquires the rights to distribute NFL RedZone to pay TV operators By Jason Dachman, Editorial Director, U.S.
Wednesday, August 6, 2025 - 3:13 pm
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In a long-expected industry-shaking deal, ESPN will acquire NFL Network and certain other media assets owned and controlled by the NFL - including NFL's linear RedZone Channel and NFL Fantasy - in exchange for a 10% equity stake in ESPN. In addition to the sale of NFL Network, the NFL and ESPN are also entering into a second non-binding agreement, under which the NFL will license to ESPN certain NFL content and other intellectual property to be used by NFL Network and other assets.
READ MORE: ESPN Extends Media Rights Agreement for NFL Draft, Adds NFL Content to Upcoming DTC Service
Today's announcement paves the way for the world's leading sports media brand and America's most popular sport to deliver an even more compelling experience for NFL fans, in a way that only ESPN and Disney can, says Robert A. Iger, Chief Executive Officer of The Walt Disney Company. Commissioner Goodell and the NFL have built outstanding media assets, and these transactions will add to consumer choice, provide viewers with even greater convenience and quality, and expand the breadth and value proposition of Disney's streaming ecosystem.
Under terms of the agreement, NFL Network, including both linear and digital rights, would be owned and operated by ESPN and fully integrated into ESPN DTC, alongside traditional pay television distribution, increasing accessibility and flexibility for consumers and promoting innovation in sports programming.
ESPN would own broad rights to the RedZone brand and distribute the NFL RedZone Channel to pay TV operators for continued inclusion into their sports packages.
NFL Fantasy Football would merge with ESPN Fantasy Football, creating the official Fantasy season-long game of the NFL and one best-in-class digital experience, driving innovation and enabling broader reach to meet global demand.
In total, ESPN's platforms will license an additional three NFL games per season to air on NFL Network as a result of today's news. In addition, ESPN will adjust its overall NFL game schedule, with four games (including some from overlapping windows) shifting to the NFL Network, which will continue to present seven games per season.
The NFL will continue to own and operate its retained media businesses including properties such as NFL Films and key fan-facing platforms such as NFL+, NFL.com, the NFL Podcast Network, the NFL FAST Channel and the official sites for the league's 32 clubs. It will also continue to own, operate, and produce NFL RedZone, and retain the rights to distribute NFL RedZone digitally.
Since its launch in 2003, NFL Network has provided millions of fans unprecedented access to the sport they love, says NFL Commissioner Roger Goodell. Whether it was debuting Thursday Night Football, televising the Combine, or telling incredible football stories through original shows and breaking news, NFL Network has delivered. The Network's sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways.
This is an exciting day for sports fans, says 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. 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.
ESPN is 80% owned by ABC, Inc. (an indirect subsidiary of The Walt Disney Company) and 20% by Hearst. Under the new deal, Disney would now own 72% of the network, while Hearst would control 18%. The transactions are subject to the parties' negotiation of definitive agreements, various approvals including by the NFL team owners, and customary closing conditions. According to SBJ, the deal could close as late as the end of 2026. Analyst Rich Greenfield estimates ESPN to be worth roughly $25B, meaning the NFL assets have a $2B-$3B valuation.
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ESPN and NFL Make it Official: NFL Network Headed to ESPN in Exchange for 10% Equity Stake ESPN also acquires the rights to distribute NFL RedZone to pay TV operators By Jason Dachman, Editorial Director, U.S. 
