The NFL commands the largest audience of any sports league in the United States, so its desire to be compensated accordingly should come as no surprise. The league’s current broadcast contracts with CBS and Fox took effect in 2023 and are scheduled to run through the 2033 season. However, the league can exit those deals as soon as the end of the 2029 season if it wants to pursue other broadcasting options. While the NFL is a cornerstone to Fox’s broadcast strategy, the company’s CEO Lachlan Murdoch seemed to welcome a potential league opt-out as an opportunity to get more pro football on his network.

Key Details:

• Murdoch said an opt-out could give Fox the chance to “deepen” its relationship with the league.
• A new deal could give Fox the opportunity to get more games for its new streaming service.
• Netflix is also potentially interested in getting a larger package of NFL games.

Murdoch spoke Monday at the Morgan Stanley Technology, Media, and Telecom conference, and was asked about the chances of the NFL exiting its contracts after 2029. Instead of sounding upset at the prospect, Murdoch made it clear that Fox would jump at the chance to enter a new deal with the league.

“The NFL is our largest partnership. They have an incredible product, and we’ve had a deep relationship with them for a very long time,” Murdoch said. “So, we see this ‘amend and extend’ provision, which is still some years out, as an opportunity for us to frankly deepen our relationship with the NFL.”

The CEO also hinted at why he thought renegotiating with the NFL could be a good thing for both the league and the network.

“Obviously [the NFL is] driving for a financial outcome, which is understandable and completely fair, but reach is important if you’re going to be—if you are—the national sport,” he said. “And it’s reach not just through broadcast, but how you can increase that reach through other services, and Tubi is a good example of that.”

That quote makes it sound as if Murdoch has an eye toward putting more NFL games on streaming. But it isn’t Tubi he’s thinking of, despite the success that streamer had in offering a stream of Super Bowl LIX in February. Murdoch almost certainly wants new game inventory for the streaming service that Fox plans on launching some time this year.

The new streamer has already named Pete Distad, former Venu Sports chief executive, as its CEO. It’s not completely clear yet precisely what content will be available on the service, but it will leverage Fox’s most popular brands, presumably including the NFL and other major sports. Murdoch has described the company’s streaming goals as “modest,” but has not provided any further insight into his thinking.

Fox could have competition for an increased package of streaming games should NFL rights go up for sale again after 2029, however. Netflix has indicated that it too could jump into the fray if a bidding war broke out, and given its global audience it could be a difficult adversary to compete with.

Linear TV networks have looked on sports as one of the last, most valuable pieces of programming keeping viewers watching. But the balance could be tipping at long last, as the NBA most recently sold a large package of its rights to Prime Video. If the NFL opts out of its current broadcast deals after 2029, things could move even more strongly in the direction of streaming, either on Fox’s new service or another outlet like Netflix.