ESPN has not ruled out future deals like the arrangement it recently struck with the NFL, but they would have to “make business sense,” network chairman Jimmy Pitaro said at an event Thursday.
Speaking at the BofA 2025 Media, Communications and Entertainment Conference, Pitaro said that ESPN’s deal with the NFL to acquire NFL Network and other assets in exchange for an equity stake was “unique” and occurred “at a unique moment in time.”
“Whether we would ever try to replicate this, I would say it’d have to make business sense … we’re always interested in ways to advance the business and, just as importantly, ways to serve the sports fan,” Pitaro said, “and so if someone comes to us and presents a compelling opportunity, we’re of course going to listen.”
Although the NFL would be a stakeholder in ESPN, the league is keeping its equity interests separate from how it thinks about distribution or the utilization of its rights. NFL EVP/media distribution Hans Schroeder said this week that the league will maintain “an arm’s length” in such negotiations. “It’s going to be fascinating to see what the NFL does with their opt out,” Pitaro said. “I think you know this, but in 2029, they have an opt out, and a year later, they have an opt out with us, so we’ll see how that plays out.”
Pitaro touted the network’s portfolio as the best in its history, but said it is never satisfied and will look at what makes sense for the business. When asked about a potential NFL international package, he said the network is “always interested in growing our business” and would “be interested in having the conversation.”
Beyond the NFL, ESPN and Major League Baseball were reported by The Wall Street Journal to be “closing in” on a three-year agreement worth $1.65 billion that would grant the company rights to include MLB.TV within the ESPN DTC streaming service, along with some local, in-market rights and a national package of games. Pitaro did not announce the completion of an agreement, but said he expects that the deals will “close relatively soon.” ESPN and MLB had agreed to a mutual opt out of their existing seven-year contract before the season, and the two entities have had conversations that Pitaro described as “healthy” and “positive.”
Over the last several years, ESPN has inked various media rights deals that have reportedly resulted in augmented fees being paid to sports leagues. The agreement with the NBA marks an increase of 75% in the annual media rights fee, moving to a reported $2.45 billion from $1.4 billion per year. The network also reached an extension of its media rights agreement with the College Football Playoff, signed a 10-year deal to broadcast SEC college football and men’s basketball games and reached a new eight-year agreement for NCAA championships.
“You’ve seen significant increases over the past several years,” Pitaro said. “I don’t have a crystal ball. I don’t know how sustainable this type of growth is. Again, you’re seeing big tech operate with discipline, which I think even a few years ago, a lot of people did not expect. I think a lot of people expected the big tech players to spend more aggressively, bid more aggressively than they have. But I’m not sure how we’re going to continue to see significant increases when there’s not a lot on the marketplace.”
