KANSAS CITY, Missouri — The Big 12 could strike new media rights deals with ESPN and Fox in the coming weeks, sources told CBS Sports.
The league has been aggressively pursuing a new contract ahead of a formal negotiation window for the 2024 conference. His current contract with ESPN and Fox in the Big 12 expires after the 2024-25 school year.
A new deal isn’t guaranteed long before the current one expires, but it could give the Big 12 an edge over the Pac-12 in securing a more lucrative broadcast window. Pac-12 is now on the open market seeking a new contract as his current contract expires in 2024.
Big 12 commissioner Brett Jormark told CBS Sports on Wednesday that if a new deal isn’t finalized soon, “there is an option to wait 16 months. [for the formal negotiating window to begin].”
Yormark expects media rights revenues per school to increase from current contracts, even though Texas and Oklahoma lost lawsuits to the SEC from 2025.
With these two giants, the Big 12 schools now receive $43 million a year for media rights. This figure includes earnings from NCAA tournaments and bowl games. Former Commissioner Bob Bowlesby testified to the Texas legislature shortly after the loss of Texas and Oklahoma that without these programs he would have lost 50% of the value of the conference.
“I’m a good salesman,” Yeomark told CBS Sports when asked why new media rights figures could exceed $43 million per show. He emphasized the value of live sports, which has long been attractive to television rights.
“Nothing is more valuable than live sports right now. Generally speaking, there is a huge appetite for what we sell, which in itself takes us to higher places,” said Yeomark. rice field.
Whatever the outcome, the Big Ten are expected to lead all conferences in 2023 when new deals with CBS, Fox and NBC begin. When USC and UCLA join him in 2024, Big Ten schools are expected to make $75 million to $80 million a year.
“I don’t believe in flats,” Yeomark said of his meeting. We’re pitching where we’re going to have this meeting, how we’re going to nationalize it, how we’re going to build our brand in partnerships and hopefully streamline the numbers we need to do this deal It will be.”
Yomark has mentioned increasing ticket prices for Big 12 basketball tournaments as a way to increase revenue. However, media rights are central to the conference’s revenue. Payments represent value to the rights holders that air school groups in that league. Payments are usually backloaded, so you get more money at the end of the trade than at the beginning.
“I … create new events, go to new markets, do media blitzes, use music, celebrate events, use influencer marketing.
The Big 12 continue to discuss ways to position themselves to include BYU, Cincinnati, Houston, and UCF as a newly reconfigured league debuting in 2025.
“Economy is important, but that’s not all I’m looking for. I need a partner who wants marketing, advertising and storytelling,” says Yormark.
CBS Sports reported last month. If the Big Ten succeeds in adding California, Oregon, Stamford and Washington, Pac-12 will be in danger of collapse. But he’s calmed down on the matter recently, sources said.
However, the Big 12 remain interested in adding a Pacific time zone presence to their conference footprint. CBS Sports reported in July That the Big 12 are in talks with Pac-12 schools to join the league. same monthPac-12 Commissioner George Kryavkov later said, “No Pac-12 school will participate in the Big 12.”
If the Pac-12 signs a media copyright deal that heavily uses streaming content, industry sources say some Pac-12 schools will move to the Big 12 because the visibility of the Pac-12 will be reduced without a linear cable home. I’m guessing it might convince you to do so. .
If so, the Big 12 could promise an inter-coastal meeting held in four time zones, with games placed in all four time slots: noon, mid-afternoon, prime time and midnight.
ESPN is believed to be looking for content in its fourth window as its Pac-12 contract expires. Whether it’s the Pac-12, Big 12, or a combination of the two leagues remains to be seen.
