NFL hires Goldman Sachs to explore new revenue streams for NFL Media
General view of the NFL Shield logo on the field before Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs at Raymond James Stadium.
Kim Klement | USA TODAY Sports | Reuters
The NFL said Wednesday it is exploring strategic options, including selling stakes, for its NFL Media properties, including NFL Network, NFL RedZone and its digital platforms.
“In recent owners’ meetings we have discussed exploring a strategic partnership to further enhance the future of the League’s owned and operated media properties – NFL Network, NFL RedZone, NFL digital properties and the valuable content rights underlying these assets within an evolving media ecosystem,” Brian Rolapp, chief media and business officer of the NFL said in a letter to league presidents and executives on Wednesday.
Rolapp said it has hired Goldman Sachs to “identify and evaluate partnership opportunities for NFL Media with the goal of creating an even more dynamic media asset that extends reach and engagement and creates additional value for the clubs – including through direct-to-consumer opportunities, new and innovative content and formats, and international expansion.”
NFL commissioner Roger Goodell said the NFL doesn’t want to give up full control of NFL Media, however.
“Our goal here is to seek a partner or multiple partners who we can work with to grow our unique collection of media properties, allowing them to maximize their reach and potential. We are not seeking to cede control of the media group, but instead, to take its growth to the next level.