AT&T can bail on $48.5 billion merger if DirecTV loses NFL Sunday Ticket

If DirecTV fails to lock up NFL Sunday Ticket beyond this coming season, AT&T has given itself the right to back away from the colossal $48.5 billion acquisition.

The out clause contained in the proposal’s fine print shows just how valuable of a property the NFL is.

"The parties also have agreed that in the unlikely event that DirecTV’s agreement for the NFL Sunday Ticket service is not renewed substantially on the terms discussed between the parties, AT&T may elect not to consummate the merger," it reads. The careful wording also says that AT&T won’t be able to collect any damages if this scenario plays out.

DirecTV just has to prove that it "used its reasonable best efforts to obtain such renewal." And from the sounds of it, the satellite provider is already trying its best to get the deal done.