Big 12 Conference Strikes Lucrative Six-Year Media Rights Package

 

The Big 12 Conference has struck a deal with ESPN and Fox Sports on a six-year media rights package.

The deal is a $380 million annual package, which translates to just under $31.7 million for each of the 12 schools that will be part of the conference after Texas and Oklahoma leave.

The conference has two years remaining on its current TV deal, which concludes following the 2024-25 academic year. That’s the same end as Texas and Oklahoma’s time as members of the league, with the two set to join the Southeastern Conference. 

BYU, UCF, Cincinnati, and Houston will join TCU, Baylor, Texas Tech, Iowa State, Kansas State, Kansas, Oklahoma State and West Virginia. It is expected that Texas and Oklahoma will not leave the Big 12 until 2025 to reduce their exit fee payments and other related costs.

The current media rights deal pays the conference $220 million per year. Once the new deal is implemented, the conference will bring in $380 million per year, an increase of 72.7 percent in the average annual value in comparison to the old deal.

Under the new deal, ESPN reportedly will continue to hold the rights to the Big 12 championship game in football and the Big 12 tournament in men’s basketball. Fox Sports reportedly will broadcast Big 12 basketball games during the regular season for the first time.