The deal is done.
As the NFL prepares to descend on San Francisco (and Santa Clara) for Super Bowl LX, the media merger between ESPN and NFL Media received government approval on Saturday, reports Andrew Marchand of TheAthletic.com.
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The parties officially closed the deal on Saturday night.
The NFL will own 10 percent of ESPN. ESPN will own and operate NFL Network, will acquire linear rights to the RedZone Channel, and will merge the NFL.com fantasy football project with the ESPN.com platform.
“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 TheAthletic.com. “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.”
Marchand reports that the NFL employees who have staffed NFL Network will become ESPN employees in April 2026. Whether and to what extent staffing changes occur after that remains to be seen.
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Likewise, the Monday Night Football doubleheaders will end (thank football gods). Those four games likely will be sold by the NFL. With the three games NFL Network has retained, ESPN will now televise 28 total games per year.
The most significant development is that the NFL has swapped its 100-percent direct ownership of NFL Network for 10-percent ownership of ESPN. Which creates an unprecedented connection between the league and a broadcast partner — and which invites speculation as to whether the league may seek to find ways to take equity positions in other networks that televise NFL games.
As the next wave of TV deals looms, it’s hard to imagine ESPN not having a significant package. The most awkward aspect of the arrangement is that the NFL will essentially be paying itself 10 cents on every dollar that ESPN pays for the privilege of presenting NFL games.