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.