It’s a touchdown for the NFL and ESPN, and it came just as the frenzy of Super Bowl LX in San Francisco is set to begin this week.
The NFL and the Worldwide Leader received governmental approval on a merger on Saturday, according to The Athletic, officially closing a deal in which the two powerhouses agreed to Aug. 1.
The NFL will own 10 percent of ESPN.
Meanwhile, the Worldwide Leader will own and operate NFL Network.
ESPN also will acquire linear rights to the RedZone channel, and also will merge the NFL.com fantasy football project with ESPN.com.
“The NFL and ESPN are pleased to announce the official closing of the sale of NFL Network and other NFL Media assets to ESPN,” the NFL and ESPN said in a joint statement to The Athletic. “With the closing, we will begin integrating NFL employees into ESPN in the months ahead. As we look to the future, NFL fans can look forward to expanded NFL programming, greater access to NFL Network, innovative fantasy experiences and unparalleled coverage of America’s most popular sport.”
The most significant part of the deal is that the NFL swapped its 100-percent direct ownership of NFL Network for 10-percent ownership of ESPN.
According to The Athletic, it invites speculation as to whether the NFL will seek to find ways to take equity positions with other networks that televises their games.
This merger likely will give ESPN a strong chance to have a significant television package as the next wave of network deals loom.
