NFL Mulls Opting Out Of Current Media Deals

The NFL is reportedly considering opting out of its current media rights agreements, which were signed in March 2021 and extend through the 2033 season, as it believes these decade-long deals undervalue its content. 

The agreements, valued at over $100 billion, involve major networks and platforms like CBS, Fox, NBC, ABC/ESPN, and Amazon Prime Video. NFL Commissioner Roger Goodell has publicly stated that the league’s deals are “undervalued,” pointing to the NFL’s unmatched viewership dominance—evidenced by extraordinary ratings, including Super Bowl LIX in February 2025 becoming the most-watched U.S. telecast ever.

The contracts include opt-out clauses allowing the NFL to exit most deals after the 2029 season (with ESPN’s opt-out following in 2030), providing a window to renegotiate or seek new partners. This potential move comes amid a rapidly shifting media landscape and escalating sports rights values. For instance, the NBA’s recent 11-year, $77 billion deal, despite lower viewership than the NFL, has fueled speculation that the NFL could command even higher fees. Analysts and league insiders suggest the NFL is a “virtual lock” to exercise these opt-outs, driven by its status as the top aggregator of large audiences in an increasingly fragmented media environment.

The current deals, while lucrative, reflect a doubling of previous rights fees—Fox, NBC, and CBS saw 100% increases, ESPN 30-35%, and Amazon pays $1 billion annually for Thursday Night Football. Yet, the NFL’s leverage has only grown since 2021. Its games remain the most-viewed programming across TV and streaming, and the rise of legal sports betting and streaming platforms like Amazon, Apple, and Google (YouTube) introduces deeper-pocketed bidders. Sources indicate the league could aim to double its annual media revenue again, potentially exceeding $20 billion, by re-entering the market in 2029.

This strategy isn’t without risks. Traditional partners like Fox and CBS rely heavily on NFL content to sustain their business models, using it to negotiate high carriage fees with distributors. An opt-out could shift games to streamers, threatening legacy media’s viability while empowering tech giants.