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Amid one of the busiest periods on the sports calendar, ESPN reportedly appeared on the verge of a partnership with DraftKings in early October. Nearly two months later, after an unexpected leadership change at the Walt Disney Company, the sports broadcasting giant is no closer to announcing a deal with a prominent sportsbook. Speaking at a Manhattan conference last week, Jimmy Pitaro, ESPN and sports content chairman, confirmed that a potential deal with a sportsbook operator is not imminent.
The meeting is the first for the parent company of ESPN since Disney CEP Bob Iger returned to his command post. Iger returned to his old role in late November in conjunction with the departure of Bob Chapek.
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During the 30-minute panel appearance, Pitaro emphasized that ESPN held discussions with several top sportsbooks. However, he did not disclose any by name. He also did not answer if ESPN was close to inking a partnership with DraftKings, under which the sportsbook operator potentially could gain exclusive rights to the network’s sports betting brand. For now, it appears that Iger will play an instrumental role in whether ESPN moves forward with comprehensive sports betting. Pitaro reiterated that ESPN would not assume any risk by creating lines for betting on a sporting event. If ESPN enters the sports betting space, it will do so through a third-party deal with a sportsbook.
Pitaro, who became the president of ESPN in March 2018 and in 2020 received the chairman title, has a longstanding relationship with Iger dating back to the Disney leader’s first stint running the company. While Pitaro noted that the two spoke over the phone, he did not indicate if they discussed the implications of a potential sports betting partnership. Iger succeeded Michael Isner as Disney CEO in 2005, remaining in the position until December 2021.
The conversations between Pitaro and Iger often extend beyond business matters to sports, the ESPN chairman noted, since both executives are ardent sports fans. Pitaro said the two discussed USC’s ascent to No. 4 in the College Football Playoff rankings, a move that could result in the program’s first appearance in the CFP national semifinals.
When ESPN initially signaled intentions to enter the sports betting space in Aug. 2021, the network reportedly sought a deal that would fetch around $3 billion from a sportsbook partner. Over the last year, the market has corrected as stocks across the industry have plunged upwards of 70%. Still, there are indications that ESPN may seek approximately $300 million a year for a sports betting deal.
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