With the constant upheaval and uncertainty in the media world and streaming era, talks of mergers and partnerships are flowing as freely as an episode of Spain’s Temptation Island. Move over Montoya, now it’s time for ESPN and the NFL to light the fire of a potential relationship once again.

Throughout much of 2024, the NFL and ESPN explored an equity deal that would have seen Bristol take over the league’s media assets. However, by the middle of the year, those talks were considered dead.

Now, talks between the two sporting giants are apparently back on.

In a special report from John Ourand at Puck, the negotiations have been resurrected thanks to the imminent launch of ESPN’s Flagship DTC streaming platform and to give the NFL some added protection when it comes to carriage deals with cable and satellite operators.

Well, the talks are back on. It’s too early to predict whether a deal will be struck, of course, but ESPN’s plan to launch its D.T.C. product, code-named Flagship, has provided some renewed momentum. The two sides have discussed the parameters of a deal that would have ESPN take control of NFL Network and NFL RedZone. On some level, this makes sense for ESPN, which already programs a host of 24/7 channels, and would be able to synergize the additional programming and related costs. NFL Network and NFL RedZone could also help the brand’s negotiations with cable and satellite distributors and elevate ESPN’s status as a preferred partner with the league. 

Even though talks have been on again and off again, a potential deal between ESPN and the NFL does make a lot of sense for both sides.

As ubiquitous as the NFL is in American culture, it has seen its fair share of carriage disputes. And as the cable industry’s path to sustainability and profitability becomes narrower and narrower, the NFL could use some backup when it comes to the distribution of NFL Network and RedZone. Even though it has the most important property that can be sold in live NFL games, the network is on an island when it comes to negotiations.

Famously, NFL Network was dark on Time Warner Cable for the first nine years of existence. It also more recently had to battle through a dispute with Comcast. An ESPN partnership and potential bundle with their channels would give the league a huge amount of leverage when it comes to future rounds of talks. And it would link their television future with the WorldWide Leader in sports and give the NFL access to ESPN’s global operation.

For Bristol, the benefits are even more obvious. An acquisition of the NFL Media assets makes their Flagship DTC streamer infinitely more appealing. ESPN has been looking for partners when it comes to the next step in the streaming revolution for months now. And with the collapse of Venu Sports, ESPN is clearly once again looking for new options to strengthen their menu for cord cutters. While a marriage with Fox Sports has always been thought of as the most expected path given the Disney-Fox deal on the entertainment side, the NFL also makes for a great dance partner.

And equally as important for ESPN, an official equity partnership with the NFL would for all intents and purposes give them favored nations status as a media partner for years to come. ESPN has already transformed Monday Night Football thanks to the hundreds of millions of dollars in talent investments and a much friendlier schedule from the league office. They are also now in the Super Bowl rotation for the first time in a generation. Just think of the benefits that will come ESPN’s way if they were to have a stake in NFL Media operations.

It’s impossible to think that several years ago, the NFL and ESPN were at serious loggerheads. Now, they are close to becoming sports’ version of The Mega Powers.