Aug. 6 at 6:33 PM
$PENN
Need to dig into the structure of the NFL-ESPN deal, but media has been saying NFL now has a 10% stake in ESPN.
This shouldn’t impact the deal one way or another. Either it’s good for ESPN Bet as NFL now has a vested interest in financial performance of ESPN, or it will help facilitate termination of deal or spin off of ESPN Bet as a separate entity, both positive for PENN stock, with the latter obviously being great for stock. 2026 is year Penn can terminate the deal, and I’m sure at this point it’s been made clear to Board of Directors that the annual $$$ commitments for ESPN deal is not working for PENN. So, next 12 months should definitely see some action IMO.