ESPN, NCAA Renew Media Rights Agreement Through '23-24

ESPN renewed its deal with the NCAA, keeping rights to NCAA championships (other than basketball) on its U.S. networks through '23-24. The NCAA did not negotiate with other networks, sources said, as it still had some years left on the 11-year, $200M deal it signed with ESPN in '01. The new deal saw ESPN increase its payout in '11-12 from $19M to $24M. That increase came as the NCAA folded the NIT and international rights into the deal. ESPN also will pay $24M in '12-13, but the rights fee will jump to $32M in '13-14. The fee then climbs 5% each year through the end of the deal.

The deal gives ESPN a wide swath of rights to 24 NCAA Championships, including Division I football (FCS), women's basketball and baseball. All told, ESPN now holds rights to 600 hours per year. In addition to TV, ESPN has rights to ESPN3, 3-D, ESPN.com and WatchESPN. ESPN also picked up rights to the men's basketball tournament outside the U.S. It also involves coverage of the NIT Season Tip-Off and all games from the NIT Postseason Tournament.