(Photo by WVU Athletics)
Ladies and gentlemen, we have some MASSIVE news coming out of the Big 12 this morning.
BREAKING: The @Big12Conference has reached a new six-year media rights agreement with ESPN and Fox worth a total of $2.28B, an average of $380M per year.
Read more from @SmittySBJ & @Ourand_SBJ: https://t.co/jTAKDFdZWf pic.twitter.com/S38HIPYvuY
— Sports Business Journal (@SBJ) October 30, 2022
According to Michael Smith and John Ourand of The Sports Business Journal, the Big 12 Conference has reached a media right agreement with ESPN and Fox. The deal is good for six-years and $2.28 billion. This deal was a major objective for new commissioner Brett Yorkman.
The media companies see this as a huge win for their brand as the Big 12 has shown the ability to be less predictable than other conferences, per Smith and Ourand.
The total each team will receive per year will be roughly $50 million. This, however, does not include Tier 3 rights, which will bring each team’s total close to that of Oklahoma and Texas.
ESPN will hold the rights to the Big 12 Championship Game in both football and basketball. Fox and Fox Sports 1 will now both carry Big 12 basketball games.