NFL to raise $20M in 2018 via sale of NFL Network and NFL Pay
A $20 million purchase of the NFL Network has been agreed upon with ESPN and the NFL’s owners.
Sources familiar with the transaction told The Associated Press the agreement is expected to close in the coming days.
ESPN said it has agreed to sell its existing 20% stake in the NFL, the remaining 30%, to an investment firm.
It did not give details on how much it paid or how many people were involved in the transaction.
A network that brings NFL programming to nearly all U.S. homes will be the NFLs largest acquisition since the start of the new millennium, according to industry analysts.
The purchase will generate about $20.4 million for ESPN and $18.5 million for the league.
The two entities have a combined value of $5.3 billion, according the Sports Business Journal.
The deal will give ESPN the largest national TV network in the world and will also bring more international talent to the network.
The network’s flagship NFL Network, which is the most popular in the U.K., is set to launch in 2019.