The “non-binding” agreement between the NFL and ESPN will eventually bind ESPN to a significant expense.
Via Ryan Glasspiegel of FrontOfficeSports.com, ESPN will assume the lease for NFL Network’s 75,000-square-foot studio near SoFi Stadium.
The duration of the lease wasn’t disclosed. Neither was the rent.
It’s hard not to wonder whether the lease included a term contemplating one rent level if the NFL is leasing the space from Rams owner Stan Kroenke, and a higher rent level if someone else assumes the role of lessee.
Regardless, ESPN will be giving up more than equity as part of its deal to assumed the NFL’s somewhat distressed media assets. And it’s apparently part of the price to pay for ensuring that ESPN will continue to have a broadcast package indefinitely into the future.
