Report: Big 12, ESPN close to new TV deal
According to Sports Business Journal, the league will make $1.3 billion from ESPN in the new contract
Oklahoma, Oklahoma State and each Big 12 school wouldÂ make roughly $5 million more a year under the terms of a new blockbuster TV contractÂ extension between the conference and ESPN, according to a published report.
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The deal â€” combined with the Big 12's Fox TV contract â€” 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 makeÂ $1.3 billion from ESPN and $1.2 billion from Fox.
ESPN's contract with the Big 12Â expires after 2016. TheÂ 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.
â€śWe have an existing agreement with the Big 12 that has four years remaining,â€ť Mike Soltys, ESPN vice president of communications, told the Sports Business Journal. â€śWe are in regular conversations with all our partners about future opportunities. There's nothing beyond that.â€ť
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.