And the deal can help drive Yahoo Sports' massive audience to NBCSports.com, a relative newcomer to the online sports arena.
The agreement also combines the fantasy news of NBC Sports' Rotoworld with Yahoo's extensive offerings of fantasy sports games.
"We think our users will love the result," said Ken Fuchs, vice president of Yahoo Global Media and head of Yahoo Sports and Games.
The deal for now does not include the Olympics, for which the two websites had competed for eyeballs in the past. Cordella said that as the two sides evaluate the success of this initial agreement, they might later add a partnership for other areas such as the Olympics and radio.
Yahoo stock has been languishing for years, but lately has been rising. Investors are betting its new CEO, Marissa Mayer, can engineer a turnaround. Mayer, a former Google executive hired in July, has vowed to fix up the Sunnyvale, Calif.-based company by improving online services and rolling out more products tailored for smartphones and tablet computers. Mayer is the fifth CEO of Yahoo in five years.
The company is one of the Internet's top destinations but it's been losing out to rivals like search leader Google and the social network Facebook Inc. in the competition for advertisers.
The company has made a handful of small deals under Mayer's leadership, mainly to acquire personnel from small tech companies. Yahoo has also been buying back more of its own stock since she took the helm.
NBC is owned by Comcast Corp., the nation's largest provider of cable TV and Internet services.
Jay Cohen reported on this story from Chicago.