Photo: Wikimedia Commons
The Pac-12 (née Pac-10) conference announced a new 12-year, $3 billion television contract with ESPN and Fox to air football and basketball games as well as “Olympic” sports.Based on what they were making before, there should be some big smiles in Colorado and Utah.
The Pac-12’s deal will be worth $250 million annually, with each school expected to receive $20.8 million a year.
And that figure for the schools will certainly go up. The new deal is not all-inclusive. That is, a number of basketball and football games were not included in the new contract. Those games are expected to be aired on the new Pac-12 network which is still being negotiated.
The big winners from the new deal are the University of Colorado and the University of Utah who will join the Pac-10 next year. Colorado received $8-9 million annually as a member of the Big 12 and Utah made less than $2 million per year with the Mountain West Conference’s TV deal.
Of course, the big losers may be the other major conferences. Here is a look at how much some of the biggest conferences are making annually with their current TV deals…
Unfortunately for the other conferences, their deals don’t expire anytime soon, which means they’ll be playing catch for the next several years.
The ACC’s new deal does not expire until 2023. The bigger of the Big 12’s two deals ($90 million with Fox) will run through the 2025 season, and their $40 million deal with ABC/ESPN expires in 2016. The SEC’s two deals ($150M/year with ESPN and $55M per year with CBS) expire in 2025. The Big 10 has a deal with ABC/ESPN that expires in 2018. The rest of their TV revenue comes from the Big 10 Network, 51 per cent of which is owned by the conference.
The new deal is clearly a coup for the Pac-12 moving forward. But the biggest winners are Colorado and Utah, who appear to have jumped on the bandwagon at just the right moment.
Business Insider Emails & Alerts
Site highlights each day to your inbox.