Jim Phillips explains how ACC can 'close the revenue gap' between Big Ten, SEC

The ACC is already well behind the Big Ten and SEC in terms of revenue it brings in. That gap is about to get much wider with the Big Ten and SEC signing new TV deals.

The ACC doesn’t have the option of signing a new TV deal, as the conference is locked in with ESPN through 2036. However, ACC commissioner Jim Phillips believes there are other options for the league to close the revenue gap with its competitors.

“It’s been no secret, we’ve had these conversations for a while. And we’re looking at a variety of ways to close the revenue gap that we see coming up,” Phillips told the ACC Network Wednesday afternoon at the conclusion of the ACC spring meetings. “Really healthy and productive sessions and meetings and conversations. … There’s no magic bullet that closes that gap, so we’re going to have to be creative, and we have been creative about three-four-five, six different things that I think have a chance to help us.”

Phillips didn’t get into a ton of specifics as far as options for closing the gap, but he did mention working with ESPN to try to keep the league in a good spot.

“We have a tremendous partner in ESPN and Disney. And so we’ve had some great conversations with them about how we monetize the network even to a greater way,” Phillips said. “And being 50-50 partners with them, they’re as incentivized as we are to find some new areas of revenue.”

The ACC has also been working with FishBait Solutions to try to bring in more revenue.

The league partnered with FishBait Solutions last summer as Its Chief Revenue and Business Innovation Consultant.

According to a release, the ACC joined with FishBait solutions to “work closely with conference office staff and key institutional contacts to assist the conference in the areas of revenue generation and innovation opportunities.”

Phillips talked more about the partnership on Wednesday.

“Fishbait’s been terrific,” he said. “This is an outside consultant that’s helped us look at sponsorship and other areas that really does have a chance to have an excellent return.”

Phillips also touched on other potential options for the league to close the revenue gap. It’s not going to be easy, but he does see a path that allows the ACC to continue as a strong and competitive conference.

“We’ve started this success initiative group amongst the board. … We’ve had a couple of conversations with the board about it. We had the subgroup meet yesterday on it, made some significant progress. We have some meetings next week in Charlotte with the board of the ACC, our 15 presidents and chancellors, so we’ll discuss it a little bit more,” Phillips said.

“At the end of the day, we’re taking the steps necessary to address the issue that we’re all talking about. There’s never going to be a direct line. There’s going to be pivots, there’s going to be movement. There’s going to be some processes that lead you to success. Some other processes that end up being a dead end for you financially. But what I do like is the cohesiveness and the togetherness of the group. And you’ve seen that.”