One of the most significant business stories in the sports media world includes a real estate component.
Front Office Sports is reporting ESPN has entered into a nonbinding agreement with the NFL to acquire NFL Network, NFL Fantasy and the rights to distribute the RedZone channel to cable and satellite operators. Along with the media assets, ESPN will take over the lease to NFL Network’s 75,000-square-foot studios across from SoFi Stadium, home of the Los Angeles Chargers and Rams.
It is uncertain how many years remain on the lease. It is also unclear if ESPN will be able to produce non-football content from the studios – as part of the deal, the NFL will gain a 10% stake in ESPN, which broadcasts its NBA Countdown and NBA Today shows from Los Angeles.
ESPN and the NFL still need to negotiate a final agreement and clear approval from the league’s team owners and federal regulators.
