The NFL has entered into a nonbinding agreement to sell NFL Network and other media assets to ESPN. The league will receive a 10% equity stake in ESPN in return.

ESPN, a subsidiary of The Walt Disney Company, announced on Tuesday that it will officially acquire the National Football League (NFL) Network in a landmark agreement.The deal -- which gives the NFL a 10% equity stake in ESPN -- includes the NFL's linear RedZone Channel and NFL Fantasy.

Ever since the NFL announced it was looking to sell NFL Network and other media assets, ESPN had been seen as one of the favorites to make a deal. Nearly five years later, a framework is finally in place.