The NFL’s next media rights deal could be worth between $150 billion and $200 billion over the next decade, nearly doubling the 2021 $110 billion contract and potentially becoming the biggest media agreement in entertainment history. For the first time since the Sports Broadcasting Act of 1961 gave the league the legal right to pool and sell its broadcast rights as a single package, the fundamental structure of how Americans watch football is about to change.
Streaming Partnerships
Oct 20, 2024; Green Bay, Wisconsin, USA; General view of a television camera operator during the game between the Houston Texans and Green Bay Packers at Lambeau Field. Mandatory Credit: Jeff Hanisch-Imagn Images
For the first time in streaming history, major streaming platforms are expected to receive exclusive packages carved directly from traditional television partners, meaning the platforms would hold a major share of NFL inventory. The broadcast networks that built their empires on Sunday football will keep the NFL, but they’re about to pay significantly more for less.
The Current Deal
The foundation that the NFL built just four years ago is about to change drastically. The league signed an 11-year media rights package in 2021, locking in five partners: CBS, Fox, NBC, ESPN, and Amazon Prime Video, with days allocated between them. CBS and Fox held onto their Sunday Afternoon windows, NBC kept its Sunday Night Football, ESPN kept its Monday Night Football, and Amazon took over Thursday Night Football, being the first streaming platform to carry an exclusive weekly package.
The Price Tag Doubles
Aug 19, 2023; Houston, Texas, USA; Sun streams on the fans as the Houston Texans play the Miami Dolphins in the third quarter at NRG Stadium. Mandatory Credit: Thomas Shea-Imagn Images
The deal was supposed to run through the 2033 season, giving everyone a decade of predictability. However, the NFL is now preparing to start over, potentially in as little as three years. Wall Street analysts suspect the price tag this time around could nearly double the last one signed in 2021.
The Opt-Out Clock
Feb 9, 2026; San Francisco, CA, USA; NFL commissioner Roger Goodell speaks at the Super Bowl LX host committee handoff press conference at Moscone Center. Mandatory Credit: Kirby Lee-Imagn Images
The current contracts run through 2033, but most partners have opt-out clauses beginning in 2029. ESPN’s window opens in 2030. Roger Goodell isn’t waiting for either date. The NFL commissioner told CNBC that renegotiations could start as early as 2026, and that the league’s partners would welcome the chance to open talks ahead of schedule. The league’s executive VP of media distribution, Hans Schroeder, told the New York Times in early February that “the value of N.F.L. rights have only increased.” The NFL has opt-out clauses embedded in the deals, and it could be ready to use them.
The Super Bowl Suite
Feb 8, 2026; Santa Clara, CA, USA; Fans celebrate after the game between the New England Patriots and Seattle Seahawks in Super Bowl LX at Levi’s Stadium. Mandatory Credit: Darren Yamashita-Imagn Images
The real negotiations didn’t happen in boardrooms, but happened 60 feet above the field at Levi’s Stadium during Super Bowl LX on February 8 in Roger Goodell’s luxury suite. The attendees were CEOs and top executives from YouTube, Paramount, Netflix, and Disney. The Seahawks went on to win the game 29-13. Above them, the real business was being discussed in the skybox.
The Bidding War Begins
Jan 29, 2013, New Orleans, LA, USA; Rod Woodson (left) and David Berson on the CBS sports network set at the Super Bowl XLVII media center at the New Orleans Ernest N. Morial Convention Center. Mandatory Credit: Kirby Lee-Imagn Images
YouTube’s vice president of subscription products, Christian Oestlien, told Bloomberg after the game that the company was “very excited about the idea that we could be doing more” with the NFL. David Berson, president and CEO of CBS Sports, said his network would “be excited to sit down” whenever the league wanted to talk. The game itself was secondary, with Goodell orchestrating a high-stakes “audition,” with every potential bidder watching each other watch the NFL’s most valuable product.
The Streaming Land Grab
The NFL isn’t just selling its product to ESPN. It now owns a piece of the buyer. On Jan. 31, the league finalized a deal giving ESPN control of NFL Network and NFL RedZone in exchange for roughly 10% equity in the Disney-owned network. That’s not the only shift. Netflix has proved the model can work after streaming a Vikings vs. Lions game on Christmas Day in December 2025, drawing in an average of 27.5 million viewers, the most-streamed NFL broadcast in U.S. history. That success gave the league the data it needed to justify carving regular-season games away from traditional television and handing them to streaming platforms. YouTube already carries NFL Sunday Ticket for out-of-market games, and Amazon has exclusive Thursday Night Football. Now all three platforms want more, and the NFL is ready to give it to them.
The Collateral Damage
If the NFL locks in $20 billion per year, every other sport could get squeezed. Major League Baseball’s national media rights expire after the 2028 season, and the networks that built their coverage around NFL anchor programming may not have the budget left to make competitive bids. DeMaurice Smith, a former executive director of the NFL Players Association, told Boardroom in December that the NFL is “happy to leave everybody else in the cold, fighting for whatever’s left.”
65 Years In The Making
Nov 28, 2025; Philadelphia, Pennsylvania, USA; The sideline set for the Black Friday Football broadcast is seen prior to the game between the Chicago Bears and the Philadelphia Eagles at Lincoln Financial Field. Mandatory Credit: Bill Streicher-Imagn Images
The Sports Broadcasting Act of 1961 gave the NFL the legal right to pool its broadcast rights and sell them as a single package, creating the most powerful media property in American sports. Sixty-five years later, the league is using that same authority to force an entire industry migration from traditional television to streaming platforms. With Wall Street expecting the next deal to approach $200 billion, the real question isn’t whether the number can be landed, but which legacy broadcasters can still afford a seat at the table when bidding starts, and which sports get left behind when the money runs out. The NFL reshaped American television in 1961, and it could do it again.
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Sources:
CNBC — “NFL Commissioner Roger Goodell says league could renegotiate TV deals as early as 2026” — September 24, 2025
Boardroom — “At Super Bowl LX, Media Titans Fought for the Future of NFL Rights” — February 11, 2026
Yahoo Sports — “The NFL will likely lean into streaming for their next broadcast rights deal” — February 20, 2026
The Big Lead — “NFL and ESPN complete blockbuster billion-dollar media agreement” — January 31, 2026
Awful Announcing — “Amazon, YouTube, Netflix ‘likely’ to get 5-game packages in next NFL deals” — February 19, 2026
Mountain Research — “All the NFL Streaming TV and CTV Advertising Numbers You Need to Know” — January 25, 2026
