Fox Sports is on the verge of signing Georgetown University to a multimedia rights agreement, providing further evidence of the big media company’s desire to expand more into college sports.
Fox broke into the multimedia rights space in 2011 by signing the University of Southern California to a deal. Georgetown represents Fox’s second client in a space traditionally dominated by IMG College and Learfield Sports.
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Georgetown would join USC on Fox Sports’ multimedia rights roster.
Photo by: GETTY IMAGES
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No financial terms were available, but the Georgetown deal is expected to cover up to 10 years, sources said. The value of deals like this for non-football schools typically ranges from $1 million to $3 million a year, industry experts said. The Hoyas will have the opportunity to make more from revenue sharing if Fox hits certain sales thresholds.
The deal has not been signed, but the two sides have agreed on terms, sources said.
The new deal has traditional multimedia rights components that encompass radio, digital, print, in-venue signage and hospitality. To date, Georgetown handled corporate sponsorships and advertising in-house, with Dan O’Neil, senior associate athletics director for external affairs, overseeing a sales team that includes Colin Smith and Steve Hines.
O’Neil and AD Lee Reed have been leading the negotiations for the Hoyas, while Dan Shell, vice president and general manager USC Sports Properties for Fox, has led talks from the Fox Sports side.
Four years ago, Fox Sports leaped into the multimedia rights marketplace through a 10-year deal with Southern Cal that guaranteed the school an average of $7 million per year. Shell has said in the past that Fox would look to expand its client list, but expanding the school roster organically can be difficult because the rights to most schools typically are tied up in long-term deals.
A client list of 10 or so schools would be in line with what Fox has said previously.
Similar to its USC deal, Fox Sports will hire a general manager who will be embedded in the athletic department on Georgetown’s Washington, D.C., campus.
Fox Sports also controls the multimedia rights, as well as the broadcast rights, for the Big East Conference.
