Big 12 Presidents Verbally Agree To New Media Deal With ESPN, Fox
Big 12 Conference presidents have “verbally agreed to a lucrative new media rights agreement” with ESPN and Fox, according to sources cited by Dennis Dodd of CBSSPORTS.com. The deal, which was first reported by THE DAILY in March, is for 13 years and worth a combined $2.6B. An extension of the league's grant of rights is "expected to be announced along with the new deal." The Big 12 presidents had previously agreed to a six-year grant of rights “that would allow the conference to keep a school’s television rights if it left for a new league.” The expectation is “that the new grant of rights will be 13 years to match the TV deal.” That provision “essentially binds the at-times contentious league together for the term of the agreement.” Dodd wrote the hiring of Bob Bowlsby as the new Big 12 Commissioner "has to be an indication that the TV announcement is near and the league is on stable ground” (CBSSPORTS.com, 5/7).