  A NFL ESPN partnership cemented in equity would effectively underwrite ESPN as a key transition partner over the next 10  years as the NFL likely moves from linear-first rights deals to streaming-first. ESPN  DIS  and the NFL are reportedly engaged in advanced discussions regarding a potential equity stake, although the likelihood of a deal remains uncertain. According to the NY Post, the talks have progressed to a point where owners and players are being informed, adhering to the revenue-sharing terms outlined in the collective bargaining agreement  CBA .If materialized, the deal could potentially involve ESPN taking control of NFL Media. An equity deal with ESPN might be viewed skeptically as it could potentially put the NFL at a disadvantage in future rights negotiations with other bidders, raising concerns about conflicts of interest, Wells Fargo strategists added. Wells Fargo analysts said the NFL is  seen as the most important sports league  for DIS investors as it can  command the highest rights prices.  ESPN may be able to improve carriage of NFL Network and or Red Zone, improving near-term cash flows  good for the CBA .
ESPN and the NFL are in talks about an equity stake that could give ESPN control of NFL Media. The deal could potentially involve ESPN taking control of NFL Media.