ESPN to Keep 'Monday Night Football' Through 2021

"Monday Night Football" will remain on ESPN through the 2021 season after an eight-year extension was finalized Thursday between the network and the NFL.

The announcement did not contain financial terms, but multiple reports indicated the deal, which takes effect in 2014 once the current contract expires, was worth more than $15 billion, or $1.9 billion per season.

"We are proud to extend our three-decade partnership with ESPN," said NFL Commissioner Roger Goodell. "We have come a long way together since ESPN first televised the NFL Draft in 1980. With this new agreement we are excited about the opportunity to take the NFL-ESPN partnership to innovative new heights in serving the most passionate fans in sports."

In addition to televising 17 "Monday Night Football" games, the agreement gives ESPN access to NFL highlights and keeps in place the network's broadcast rights for the Pro Bowl and NFL Draft.

The deal also gives the NFL the option to televise a Wild Card playoff game on ESPN. Currently, NFL playoff games air on FOX, CBS and NBC.

"Today, we've secured cable's most valuable television franchise, along with an enhanced international package of year-round multimedia rights," said ESPN and ABC Sports President George Bodenheimer.

"It will help grow our business well into the next decade. No one has the breadth of worldwide media assets or the ability to monetize a property the way ESPN can, particularly with Monday Night Football and our complete NFL coverage."

"Monday Night Football" debuted in 1970 on ABC and moved to ESPN in 2006 when the network inked an eight-year deal with the NFL. Thursday's extension will ensure that the iconic program will celebrate its 50th anniversary on ESPN in 2020.

Since moving to ESPN, "Monday Night Football" has recorded eight of the top 10 audiences in cable television history.