Since last month, talks between ESPN and the NFL over the Worldwide Leader’s potential acquisition of NFL Media appear to be heating up once again. And the latest reports from The Athletic’s Andrew Marchand shed light on just how big of a deal that acquisition could be.
In his podcast Marchand Sports Media this week, the sports media insider reported ESPN’s acquisition of NFL Media could be for as much as $2 billion and possibly see the league take an ownership stake in the network.
ESPN has added momentum to strike this deal now ahead of the release of its direct-to-consumer app this fall. Marchand related it to 1987, when the network acquired NFL rights for the first time and gained a big advantage in carriage negotiations with cable companies.
Only now is distribution less important for ESPN than content. By acquiring NFL Media, the network would acquire two premium assets in NFL RedZone and eight NFL Network game broadcasts.
“When we look back in 10, 15 years if this deal goes down, this could be a very significant point for ESPN’s growth when you’re adding it all up, and we’re really in a full streaming world,” Marchand said. “I think it’s pretty significant whether it happens in the next few months or not.”
Add in digital assets like the league’s fantasy products and shows like Good Morning Football and The Insiders, and ESPN would get an actual injection of existing content that would attract fans. This is incredibly important in a world where ESPN, like any Substack writer or streaming service, has to actively draw subscribers in rather than cruising on the cable business.
A standalone sports network and content company in 2025 needs the NFL. The best way to get as much of it as possible is to deal directly with the league’s media apparatus.
“When you look at Netflix and Amazon, they don’t necessarily need the NFL. Those businesses aren’t based off the NFL,” Marchand added. “So if you’re ESPN, you get that relationship even deeper for the long-term with the NFL. I think it makes some sense, and it could be a game-changer.”
For what it’s worth, when John Ourand of Puck initially reported that these talks were back on, he mentioned that the acquisition could also help ESPN keep the rights to the NFL Draft. NFL Network currently airs its own draft broadcast opposite the ESPN and ABC broadcasts each April. Consolidating the rights to what is becoming a marquee sports event would be another reason for the Worldwide Leader to do this deal.
As if ESPN didn’t have enough major business to deal with in 2025 between its ongoing war of words with Major League Baseball and the launch of its DTC app, this NFL Media acquisition is yet another domino waiting to fall in Bristol.
