ESPN Seeking $3B to License Name to Sportsbook

    • ESPN is looking to license its name to a sports betting company, seeking at least $3 billion over multiple years.
    • The company is in talks with sportsbooks, including DraftKings and Caesars Entertainment

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What’s in a name? ESPN is hoping the answer is at least $3 billion.

The Disney-owned sports media giant is looking to leverage the familiarity sports fans have with its brand by licensing its name to a sports betting company.

No pact is imminent at this time. Front Office Sports reported in June that an ESPN-branded sportsbook could be on the way.

  • ESPN is seeking at least $3 billion in a multiyear deal, per The Wall Street Journal. A company could rename its sportsbook to include “ESPN” as part of the deal.
  • ESPN is in talks with multiple sportsbooks, including current marketing partners DraftKings and Caesars Entertainment.
  • A deal could come with requirements that the sports betting company purchase a certain amount of advertising on ESPN’s platforms.

ESPN has podcasts — and a section of its website called “Chalk” — devoted to sports betting but has avoided operating as a sportsbook.

Sportsbooks are expected to earn over $1.5 billion from at least $20 billion in football bets in the upcoming season.

Editor’s note: DraftKings is an FOS partner.