ESPN reportedly selling equity stake for RedZone and other NFL properties
The NFL will receive equity in ESPN that 'is potentially worth billions' in exchange, according to the report. An official announcement is expected next week, ending a four-year period of complicated, on-and-off negotiations.
Both sides declined to provide comment to the Athletic.
In addition to RedZone and NFL Network, ESPN will gain access to seven more regular-season games and the NFL's fantasy football operations, as well as the potential to integrate sports betting and other special features.
The NFL's equity stake in ESPN could be as much as 10%, CNBC first reported and the Athletic confirmed.
An ESPN-NFL deal would require regulatory approval, a process that could take up to a year to complete.
The two sides already have a cozy relationship. ESPN pays the NFL about $2.7bn per year to air a total of 25 games, including Monday Night Football. The network also holds the rights to the Super Bowls in 2027 and 2031.
Friday's reported agreement comes as ESPN is preparing to launch its direct-to-consumer service, with subscribers paying $29.99 per month to bypass cable and satellite providers to view all of the network's programming through the ESPN app.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
22 minutes ago
- Daily Mail
MAGA co-founder of popular burger restaurant named in honor of Trump is ironically arrested by ICE
The co-founder of Trump Burger, a Texas fast-food chain idolizing President Donald Trump and his hardline immigration policies, is now facing deportation himself. Roland Beainy, a Lebanese immigrant who turned his loyalty to Trump into a MAGA-branded burger empire, has been accused of immigration fraud and notified by federal officials that his green card is being revoked. The Department of Homeland Security confirmed Beainy is under investigation over what has been described as a 'sham marriage' designed to exploit US immigration laws. The revelation has ignited controversy across Texas, where Beainy has helped build a chain devoted to Trump's image complete with impersonators, burgers stamped with Trump's name, and menu items mocking former President Biden. But the restaurateur known for glorifying deportation policies is now entangled in a potential deportation case of his own. An immigration court hearing has been set for November 18, where Beainy could be formally ordered to leave the country. US Citizenship and Immigration Services (USCIS) informed a woman claiming to be Beainy's wife that his I-130 application - the form used by American citizens to sponsor relatives for immigration status, would be revoked. USCIS reportedly found no lease, joint accounts, or other proof that the two ever shared a life together. Investigators say even the woman's own family acknowledged the marriage was a 'sham.' Beainy's legal meltdown comes amid a torrent of litigation surrounding his beloved burger brand, Trump Burger which has grown to four Texas locations and features everything from the 'Trump Tower Burger' to the 'Melania Crispy Chicken.' The gimmick is pure MAGA kitsch with menu items named after Trump family members, burgers stamped with Trump's name on the bun, and Trump impersonators roaming the dining rooms. From its early days, Trump Burger was designed to be a monument to American bravado: red meat, big slogans and bigger portions. It branded itself as unapologetically conservative and unabashedly pro-Trump down to the $50.99 'Biden Burger,' which features a measly 1-ounce patty and is topped with 'old tomato and our oldest buns available due to cheating and inflation.' Launched in 2020 in Bellville, Texas, Trump Burger was Beainy's love letter to the 45th president - a man whose hardline immigration stance include ICE raids and mass deportations. 'The man who slapped Trump's face on a hamburger and called it freedom is now fighting to stay in the country,' one critic posted on Facebook. 'Turns out wrapping meat in patriotism doesn't automatically come with a green card renewal.' Beainy's troubles with ICE appear to be just the beginning. He currently entangled in at least four lawsuits, including a bitter feud over ownership of the Trump Burger brand itself. Beainy claims he purchased a 50% stake in the original restaurant from co-founder Iyad 'Eddie' Abuelhawa. But Abuelhawa denies there was ever a formal agreement and is countersuing Beainy, seeking $1 million in damages. In a separate dispute, Beainy sued the property owner of Trump Burger's Kemah location, Archie Patterson, after Patterson evicted him and changed the signage to read 'MAGA Burger.' Beainy's former business partner, Beshara Janho, is also suing him for over $1 million in damages related to another venture. But the most brutal blow has come from Trump himself. In February, the Trump Organization sent a cease-and-desist letter to Beainy, demanding he stop using Trump's name and image, citing potential consumer confusion and unauthorized brand use. The restaurant is not endorsed by Donald Trump, the Trump family, or the Trump Organization. Beainy's immigration court hearing is scheduled for November 18, where a judge will determine whether the green card revocation stands and whether Beainy will be deported.
Daily Mail
24 minutes ago
- Daily Mail
Billionaire grocery magnate warns NYC will turn into CUBA if socialist gets elected as mayor
Billionaire supermarket owner John Catsimatidis has warned that mayoral candidate Zohran Mamdani will transform New York City into Cuba, which has been ruled by communists since 1959. Wealthy New Yorkers, including Catsimatidis, have been forecasting the doom of America's largest city should the self-professed socialist win the general election in November. Catsimatidis, owner of D'agostino and Gristedes, slammed Mamdani's agenda as free handouts in an exclusive interview with Fox Digital on Wednesday. 'We're gonna give you buses for nothing, we're gonna give you subways for nothing, we're gonna give you food for nothing. This is what Fidel Castro did,' Catsimatidis said. Mamdani, a 33-year-old New York State assemblyman, won the Democratic primary in June on promises of free bus service, free childcare, free tuition for the City University of New York and freezing the rents for more than 2 million residents. 'The people in Venezuela are starving,' Catsimatidis said. 'The people in Cuba are starving. And I think the American people, especially New Yorkers, they're smart and they're going to realize this right away.' In the next breath, the real estate mogul seemed to acknowledge Mamdani's charisma, while also tearing into his relatively thin résumé. 'He has a beautiful smile. He has a good smile. He seems like a nice guy, but it's a con game,' he said. 'He's not qualified to be mayor. The city is a $100 billion enterprise, and you have to be really smart. You have to be able to know your checks and balance, you have to be able to run 300,000 employees.' Still, Mamdani handily defeated former New York governor Andrew Cuomo, who was thought of as the more experienced option in the race. His main opponents in the general will be Cuomo and current mayor Eric Adams, both of whom are running as independents. Former US Attorney Jim Walden and Curtis Sliwa, the perennial Republican option, are also in the race. Catsimatidis sought to handwave away various polls that have Mamdani cruising to victory in November. 'I don't think the polls are really real right now,' Catsimatidis said. 'He doesn't like the Italian people. The Italians are going to be against him. He doesn't like business people. The business people are going to be against him. So I don't think he's that far ahead.' The most recent poll has Mamdani at 50 percent support among likely voters, while Cuomo is in a distant second at 22 percent. Catsimatidis, who ran for mayor himself in 2013, also believes the city won't be able to fund the Mamdani's policies by increasing corporate taxes and income taxes on rich New Yorkers. 'Sooner or later, you're going to run out of money,' he said. 'These union leaders are picking this guy, Mamdani, for what? They were promised a great day. They were promised great numbers. But if the city runs out of money, who's going to pay the pensions?' Catsimatidis's thorough condemnation of Mamdani comes as The New York Times reported that President Donald Trump is weighing getting involved in the mayoral race. Trump reportedly spoke on the phone with Cuomo directly about the state of the race, according to three sources who were briefed on the call. It's still unclear what exactly Trump and Cuomo said to one another or who of the two initiated the unlikely conversation. In early July, Trump publicly said he would arrest Mamdani if he dared to defy raids by Immigration and Customs Enforcement in New York City. He also accused Mamdani of possibly being in the United States illegally, even though he was born in Uganda and became a naturalized US citizen in 2018. 'I think he's terrible. He's a communist,' Trump has said. 'The last thing we need is a communist. I said there will never be socialism in the United States. So we have a communist?' Trump has also been asked about Mamdani's refusal to condemn the use of the term 'globalize the intifada,' a pro-Palestinian slogan that has encouraged violence against Israelis and Jews. Since becoming the Democratic nominee, Mamdani has now said he would discourage the use of the term. 'I think he's, frankly, I've heard he's a total nut job. I think the people in New York are crazy. If they go this route, I think they're crazy,' Trump has said.
Reuters
24 minutes ago
- Reuters
Trump says he will pick a 'temp' replacement for Fed's Kugler in days
WASHINGTON, Aug 6 (Reuters) - U.S. President Donald Trump said on Wednesday he would likely pick someone to serve out the remaining months of a soon-to-be vacant position on the Federal Reserve's Board of Governors in the next two to three days, choosing from a shortlist of three. "We started the interviewing process," Trump told reporters in the Oval Office, noting that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Vice President JD Vance were all involved. "We have some great candidates. It's probably down to three," he said. Fed Governor Adriana Kugler last week unexpectedly announced she was leaving as of this Friday to return to Georgetown University, where she is a tenured professor. Trump has long sought to oust Fed Chair Jerome Powell or at least replace him when his term ends in May. On Wednesday he indicated the current Fed governor search would focus only on finding someone to serve out the remainder of Kugler's term, which runs through January, rather than identifying a longer-term successor. "We're probably going to go with a temp and then a permanent, I think," Trump said. "So, the temp is going to be named, I'd say, in the next two, three days, and then we're going to go permanent." He repeated earlier comments complimenting the "two Kevins" - former Fed Governor Kevin Warsh and current National Economic Council director Kevin Hassett - without mentioning the third candidate. Trump said again that Bessent was not interested in the job, and said the new governor nominee would have roots in Wall Street. "Essentially, we're all from Wall Street, aren't we?" he said. On Tuesday, Trump said he had narrowed his search for a new Fed chair to four people, one of whom is thought to be current Fed Governor Christopher Waller.
