Report: Big 12 Conference nearing new deal with Fox, ESPN ahead of Pac-12

According to a report, the Big 12 Conference could be close to finalizing a new media rights deal with Fox and ESPN. The conference has pursued a new deal proactively after the news that Texas and Oklahoma would be departing for the SEC, and could have a new deal in place before their formal negotiating window that would open in 2024.

Big 12 Conference approaching new media rights deal

The news comes as somewhat of a shock when compared to the Pac-12’s pursuit of a new deal. The Pac-12 Conference is currently on the open market in pursuit of a new media rights deal, while the Big 12 isn’t officially pursuing theirs.

“Big 12 Conference may have a new deal with Fox and ESPN in as little as weeks. The significance is that the Big 12 could reach agreement on a new deal ahead of the Pac-12 which is currently on the open market,” detailed CBS Sports‘ Dennis Dodd.

The Big 12’s current deal with ESPN and Fox is set to expire after the conclusion of the 2024-25 academic year, but commissioner Brett Yormark does not appear to be waiting for that day to come without a plan in place. Although a new deal is not a guarantee, the report indicates that they could be the first of the two conferences to secure specific broadcast windows.

If the rumored deal currently in the works does not manifest, then the Big 12 is able to wait for another 16 months for the formal negotiating window to open according to Yormark.

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Although not directly related to each other’s broadcast deals, the Big 12 securing a new deal could have a shockwave effect through the Pac-12 as its future is undergoing a period of change. The Pac-12 could be exploring a media rights deal that is heavy on streaming content instead of a more traditional television deal — a move that the CBS Sports’ report believes could convince some Pac-12 schools to make a jump to the Big 12.

If those schools believe that the Big 12 will have more media visibility — and therefore financial success — the Pac-12 could be in a situation where the Big 12 and Big Ten conferences absorb too many of their members.

“If that happens, the Big 12 could promise a coast-to-coast conference located in four time zones with games positioned all four windows: noon, mid-afternoon, prime time and late night,” explains Dodd.