LOS ANGELES, California: ESPN is set to expand its football footprint in a landmark deal with the NFL that will give the Disney-owned network control of several key league media properties, including NFL Network, in exchange for the NFL acquiring a 10 percent equity stake in ESPN.

The transaction, announced this week, is subject to regulatory approval. No official valuation was disclosed, but analysts estimate the NFL’s stake could be worth between US$2 billion and $3 billion.

“Tough to estimate a value except that it’s in the multi-billions,” said sports marketing analyst Bob Dorfman. “The NFL seems to have no ceiling on growth and value; with all the content beyond the actual games, it’s become a year-round sport. And it’s only going to grow internationally.”

As part of the agreement, ESPN will also take over NFL Fantasy, a popular digital platform, and gain distribution rights for NFL RedZone to cable and satellite customers.

“Today’s announcement paves the way for the world’s leading sports media brand and America’s most popular sport to deliver an even more compelling experience for NFL fans, in a way that only ESPN and Disney can,” said Disney CEO Robert Iger.

The deal comes as ESPN prepares to launch its standalone streaming service, expected as early as this month, priced at $29.99 per month. The service will feature coverage of the NFL, NBA, WNBA, MLB, NCAA Women’s Basketball Championship, and more, along with shows like SportsCenter and Pardon the Interruption.

“By combining these NFL media assets with ESPN’s reach and innovation, we’re creating a premier destination for football fans,” said ESPN Chairman Jimmy Pitaro.

The NFL Network, launched by the league in 2003, will now be operated by ESPN and continue airing seven games per season. While the channel helped launch Thursday Night Football, it never became a direct competitor to ESPN.

“The network’s sale to ESPN will build on this remarkable legacy, providing more NFL football for more fans in new and innovative ways,” said NFL Commissioner Roger Goodell.

RedZone, which provides live look-ins during scoring drives on Sunday afternoons, will remain owned and produced by the NFL, which retains digital distribution rights.

The NFL will also continue to own other media assets, including NFL Films, the NFL Podcast Network, and the NFL+ streaming service.