NFL and ESPN officially close massive deal with government approval; league now owns 10% of network [View all]
The billion-dollar agreement between the NFL and ESPN officially closed on Saturday after receiving approval from government regulators, according to The Athletic's Andrew Marchand.
Originally announced in August, the deal will see the NFL acquire a 10% stake in the network from The Walt Disney Company. In exchange, ESPN will add NFL Network to its family of networks, as well as NFL RedZone and the league's fantasy football platform.
The deal is valued in the billions of dollars and will see the largest league in the world formally commingle with the largest sports network in the world, the culmination of a decades-long relationship. The affected NFL employees will reportedly become officially part of ESPN in April and NFL Network will be integrated into ESPN's platforms at the start of the next regular season.
The two parties' statement, via The Athletic:
“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.”
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