New media rights contract with Fox and S-pun:
The Big 12 is on the cusp of extending its current television contract with ESPN and Fox, according to ESPN sources.
The league is in the final stages of putting together a six-year, $2.28 billion contract extension that includes a sizable pay bump for schools. The new contract, which takes hold starting in 2025, includes ESPN owning more than 60 percent of the inventory and Fox adding a sizable portion of college basketball.
The contract's near completion was first reported by the Sports Business Journal.
The deal projects for the Big 12 to make a sharp increase in media revenue per school, despite Oklahoma and Texas not being in the league after the 2024 season. A source said that the league is expected to agree to a grant of rights with its 12 members for the length of the deal.
The overall value of the Big 12's media deal is expected to increase from $220 million annually to $380 million. That's an average increase in media-only revenue per school from $22 million to $31.7 million (the $380 million is now divided 12 ways with the addition of BYU, UCF, Cincinnati and Houston).
The new deal will mark an uptick in the Big 12's overall distribution number, which currently stands at $42.6 million per school. That number is subject to myriad variables such as NCAA tournament units, bowl revenue and new College Football Playoff revenue.
It's safe to project the overall per-school revenue increasing to nearly $50 million starting in 2025-26. That number could well be much bigger depending on money the 12-team College Football Playoff delivers.
www.espn.com
The Big 12 is on the cusp of extending its current television contract with ESPN and Fox, according to ESPN sources.
The league is in the final stages of putting together a six-year, $2.28 billion contract extension that includes a sizable pay bump for schools. The new contract, which takes hold starting in 2025, includes ESPN owning more than 60 percent of the inventory and Fox adding a sizable portion of college basketball.
The contract's near completion was first reported by the Sports Business Journal.
The deal projects for the Big 12 to make a sharp increase in media revenue per school, despite Oklahoma and Texas not being in the league after the 2024 season. A source said that the league is expected to agree to a grant of rights with its 12 members for the length of the deal.
The overall value of the Big 12's media deal is expected to increase from $220 million annually to $380 million. That's an average increase in media-only revenue per school from $22 million to $31.7 million (the $380 million is now divided 12 ways with the addition of BYU, UCF, Cincinnati and Houston).
The new deal will mark an uptick in the Big 12's overall distribution number, which currently stands at $42.6 million per school. That number is subject to myriad variables such as NCAA tournament units, bowl revenue and new College Football Playoff revenue.
It's safe to project the overall per-school revenue increasing to nearly $50 million starting in 2025-26. That number could well be much bigger depending on money the 12-team College Football Playoff delivers.
Big 12 close to $2.28B media deal with ESPN, Fox
The Big 12 is near completion of a six-year media deal extension with ESPN and Fox Sports that is expected to be worth $380 million a year and will take hold starting in 2025.
www.espn.com
