He Maxed Out His Credit Card and Bet $9,000 on a Crazy Idea: How Bill Rasmussen Created ESPN Before Dying at 93

Bill Rasmussen, the entrepreneur who turned a $9,000 maxed‑out credit card gamble into ESPN, the world's first 24‑hour sports television network, has died at his home in Florida aged 93. ESPN confirmed he passed away from complications of Parkinson's disease, with which he was diagnosed in 2014 and which he disclosed publicly in 2019.

Rasmussen's death closes the story of a man who, more than four decades ago, reshaped sports broadcasting. Before ESPN launched in 1979, live sport on television was largely confined to weekends, major event broadcasts and late‑night highlights, with little mid‑week coverage beyond primetime fixtures.

A round‑the‑clock cable sports channel was widely considered unworkable. Rasmussen, freshly dismissed as communications director of the New England Whalers ice hockey team, chose to ignore that scepticism.

The $9,000 Gamble That Started ESPN

In 1978, Rasmussen and his son Scott began exploring satellite television technology. According to ESPN's historical account, the idea for a channel devoted entirely to sport came to the pair while they sat in traffic on Interstate 84 in Connecticut.

Out of work, Rasmussen maxed out his credit card, using a $9,000 advance to secure satellite space that would underpin the fledgling network. He then went door to door, pitching the concept to sports leagues, cable operators and investors.

Getty Oil agreed to provide financial backing, the NCAA signed a programming contract, and brewer Anheuser‑Busch struck what was then the largest sponsorship deal in cable history.

On 7 September 1979, the Entertainment and Sports Programming Network went on air to 1.4 million homes from a still‑unfinished building in Bristol, Connecticut, staffed by around 80 people. Its first broadcast, SportsCenter, was hosted by Lee Leonard and George Grande and went on to become the most frequently aired programme in American television history.

Rasmussen served as ESPN's first president and chief executive, and was named chairman in July 1979 before NBC Sports veteran Chet Simmons took over as president. Under his leadership, the network introduced round‑the‑clock programming and early‑round coverage of the NCAA men's basketball tournament in 1980, which brought it its first major national attention.

Rasmussen and his son left active roles at the company less than a year later, having been squeezed out by majority owner Getty Oil, a move that has been well-documented in the network's founding history.

ESPN chairman Jimmy Pitaro described him as 'a visionary and an innovator who conceived the idea of a network entirely devoted to sports'. Veteran anchor Chris Berman, who joined three weeks after launch, called him 'our George Washington' and said 'every sports fan can be grateful for Bill'.

A Legacy Far Beyond Bristol and ESPN's Birthplace

he scale of what grew from that single building remains striking. ESPN now employs more than 5,900 people worldwide. It runs multiple US television networks alongside sports coverage on ABC, and operates a leading direct‑to‑consumer streaming service reaching audiences on nearly every continent.

Rasmussen's contribution was recognised well before his death. In 1994, Sports Illustrated named him among its 'Forty for the Ages', and USA Today dubbed him 'The Father of Sports Television'. He was inducted into the Connecticut Sports Museum and Hall of Fame in 1997 and the Sports Broadcasting Hall of Fame in 2025.

Born in Chicago in 1932, Rasmussen studied economics at DePauw University, served in the US Air Force, and completed an MBA at Rutgers before moving into radio and television broadcasting in Massachusetts. He joined the New England Whalers in 1974, a role that ended with his dismissal in 1978 and, indirectly, led to ESPN.

After leaving the network, he worked as a media consultant, pursued other sports ventures and wrote two books on ESPN's founding, most recently ESPN: One Giant Leap for Fankind in 2023. He remained an advocate for Parkinson's patients through the American Parkinson Disease Association and the Michael J Fox Foundation until his death.