NFL exploring minority sale of media assets
American football’s NFL is considering selling minority stakes in its media business as it explores “strategic options” for its properties.
The league’s media business includes the NFL Network, NFL RedZone, the channel which features live action cut-ins as teams approach the opposition's end zone, and digital platforms.
The NFL has hired US banking giant Goldman Sachs to secure partnerships and investments in its media arm.
The league is seeking to bring strategic partners on board to create “an even more dynamic media asset” and expand the reach of its television networks and digital offerings.
The top American football league believes this will create additional value for its teams through “direct-to-consumer opportunities, new and innovative content and formats, and international expansion".
In a statement, the NFL said: “The NFL has a proven track record of creating leading media platforms that develop significant audiences so we anticipate speaking to a number of interested parties.
“We do not intend to provide an update on this process until it has concluded and will not speculate about potential outcomes.”
Under any partnership, the league plans to retain majority control of its media enterprise.
The move comes amid an evolving media landscape with cord-cutting and streaming shaking up the traditional broadcasting market.
In domestic broadcasting terms, the NFL remains the top sports property, which was evidenced in March as it concluded lucrative new 11-year rights deals with ESPN, CBS, Fox, NBC and Amazon valued at up to $110 billion.
The league has embraced the digital market through its own media properties as well as the agreement with Amazon, while retaining a significant presence on linear television.
It is now seeking to grow the NFL Media business and expand the reach of its in-house services to create additional revenue streams.