Oklahoma, Oklahoma State and each Big 12 school would make roughly $5 million more a year under the terms of a new blockbuster TV contract extension between the conference and ESPN, according to a published report.
The deal — combined with the Big 12's Fox TV contract — would be worth $2.5 billion over the next 13 years, according to the Sports Business Journal, citing industry sources. The ESPN extension would run through 2025. Sports Business Journal reported the Big 12 stands to make $1.3 billion from ESPN and $1.2 billion from Fox.
ESPN's contract with the Big 12 expires after 2016. The new nine-year extension will increase the conference's average revenue from its current $150 million a year to nearly $200 million annually, according to the report.
“We have an existing agreement with the Big 12 that has four years remaining,” Mike Soltys, ESPN vice president of communications, told the Sports Business Journal. “We are in regular conversations with all our partners about future opportunities. There's nothing beyond that.”
The new deal would follow the Big 12 Conference's loss of Texas A&M and Missouri to the SEC and addition of TCU from the Mountain West and West Virginia from the Big East.
The Sports Business Journal reported that the new media revenue could effectively end discussion of the Big 12 expanding back to 12 teams.