Details emerge on ESPN’s groundbreaking acquisition of NFL Network

NFL teams aren’t the only ones getting busy with transactions this offseason. The league itself has swung a huge media deal with ESPN, and details of the agreement are finally coming out.

The NFL officially announced Tuesday that it was selling NFL Network, NFL RedZone, and other media assets to ESPN. In return, the NFL gets a 10% stake in ESPN — a piece of equity that is easily worth billions of dollars.

On Tuesday, the league shared more details about the massive transaction.

According to the press release, ESPN would own and operate NFL Network in full capacity. The broadcasting giant would be able to distribute NFL Network in the traditional television format as well as integrate it into any of its own digital programming.

ESPN acquires the rights to distribute NFL RedZone to traditional TV operators wanting to offer RedZone in their sports packages. The NFL will still own and produce NFL RedZone and maintain the right to distribute the product digitally.

The deal would also combine ESPN Fantasy Football with NFL Fantasy Football, giving ESPN a strong grip in the fantasy sports space. Additionally, ESPN would license three more NFL games per season to air on NFL Network.

The NFL will retain its other properties, such as NFL+, NFL Films, NFL.com, and the rights to all 32 official team sites.

Reports of the agreed-upon deal between ESPN and the NFL emerged last week. The press release makes it official.

The move comes ahead of ESPN’s launch of its direct-to-consumer streaming service. Acquiring a ton of additional NFL media resources bolsters ESPN’s product, which is reportedly expected to be priced at $29.99 per month.