UT To Unveil 20-Year, $300M Deal With ESPN For Longhorn Network
|Univ. of Texas to receive $15M annually from ESPN as rights fee for Longhorn Network|
All three parties – UT, ESPN and IMG – signed the contract, sources said, because some of the rights had to be sublicensed from IMG, while other rights came directly from the university. In addition to the channel, Texas makes more than $10M a year from its multimedia rights agreement with IMG, which will give the school an annual revenue stream of about $25M for its multimedia rights and the channel combined. The Longhorns’ budget for the '10-11 fiscal year, already the nation’s richest, is $137M.