ESPN has reached a deal with the NFL to purchase RedZone, NFL Network and other league holdings, The Athletic reported Friday.

The NFL will receive equity in ESPN that "is potentially worth billions" in exchange, according to the report. An official announcement is expected next week, ending a four-year period of complicated, on-and-off negotiations.

Both sides declined to provide comment to The Athletic.

In addition to RedZone and NFL Network, ESPN will gain access to seven more regular-season games and the NFL's fantasy football operations, as well as the potential to integrate sports betting and other special features.

The NFL's equity stake in ESPN could be as much as 10 percent, CNBC first reported and The Athletic confirmed.

An ESPN-NFL deal would require regulatory approval, a process that could take up to a year to complete.

The two sides already have a cozy relationship. ESPN pays the NFL about $2.7 billion per year to air a total of 25 games, including "Monday Night Football." The network also holds the rights to the Super Bowls in 2027 and 2031.

Friday's reported agreement comes as ESPN is preparing to launch its direct- to-consumer service, with subscribers paying $29.99 per month to bypass cable and satellite providers to view all of the network's programming through the ESPN app.