Videos by OutKick
The NFL is looking to sell stake in NFL Network and other league-owned media properties, which include NFL Network’s RedZone and NFL.com.
In a letter Wednesday, the league told team owners that it has hired Goldman Sachs Group Inc. to explore potential partnerships. League owners say the NFL would maintain control of all properties.
The NFL believes that aligning with a media or technology company would bolster both its television networks and digital services.
“We are not selling. We are looking for investment partners,” Dallas Cowboys owner Jerry Jones said in the Wall Street Journal.
Should NFL Media partner with a tech giant, it’s unclear if or how much linear programming would transition to a streaming service.
This year, NBC Sports Network announced that it would shut down, sending much of its sports content to Peacock. Like all cable channels, NFL Network and NBCSN were hit hard by cord-cutting.
NFL Network remains in 56 million homes.
On the talent side, NFL Network employs Ian Rapoport, Rich Eisen, Colleen Wolfe, Steve Smith, and Michael Irvin. NFL Media’s original programming includes Good Morning Football and NFL GameDay.
NFL Network took a hit earlier this year when the league announced the network would carry only seven regular-season games once Amazon takes over the distribution of Thursday Night Football at the start of the 2022 season.
The network also simulcasts the NFL Draft with ESPN and ABC.
Patriots owner Robert Kraft says there is no timetable, nor is there pressure to get a deal done.
“We’re only going to do it if it’s the right fit. It has to be clear that it’s someone who can manage our resources better than we can,” Kraft said.
Translation: don’t bet against the NFL.