ESPN and Disney are now looking for a third party to help them enter the world of sports betting. [Image: Shutterstock.com]
Never in the cards
Disney CEO Bob Chuckle said Thursday that its sports network affiliate ESPN is looking for a partner to help it enter the sports betting market.
Now, we will need a partner to do this, because we will never be writers.”
“We at ESPN have the ability to do that,” Chapek said in an interview with CNBCDavid Faber. “Now, we’re going to need a partner to do that, because we’re never going to be writers, and that’s not in the Walt Disney Company cards – but at the same time, to be able to partner with a respected third party can do that for us.”
Chapek’s comments created confusion about the direction of the company. He hinted that ESPN was working on a betting app while speaking at the D23 show last weekend, but the CEO has now indicated that his company will need a betting partner to move forward with those plans.
Regardless, ESPN appears eager to join the betting world.
ESPN is one of the most successful sports networks in America and has control of various regions around the world. As the popularity of sports betting continues to rise, its eventual integration with ESPN seems inevitable.
Earlier this year, ESPN President Jimmy Petaro . said the athlete The company “could do more” to prepare its future plans for sports betting. “We need to serve sports fans with what they expect, and remove friction from the process,” Pitaro said.
ESPN has already entered into agreements with DraftKings Sportsbook and Caesars Sportsbook, allowing them to offer betting content on their platforms. If it were to become or join an operator, it would be much easier to convert its massive audience than other unrelated companies or startups.
ESPN News Pop-ups and Other Rumors
Recently, investor Daniel Loeb’s Third Point, an asset management company, acquired a new stake in Disney worth about $1 billion, or 0.4% of the company. Loeb previously campaigned for Disney to launch ESPN, claiming it would be easier to get involved in sports betting and other projects. However, he has since retracted his opinion.
Loeb shared his new stance on Twitter:
Loeb’s tweet came shortly after Chapek’s comments at D23 predicted self-sufficiency.