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Big 12 opens media rights negotiations ahead of schedule; early exit for Oklahoma, Texas being considered


One of the few advantages the crippled Pac-12 had in the reorganization was that it was next in line among major conferences to renew media rights contracts.When there was a question whether there was even become Pac-12 after losing USC and UCLA, that was it.

That edge was lost Wednesday when the Big 12 announced it would soon be in talks with media partners ESPN and Fox. The Big 12’s contract, which expires in 2025, could possibly be renegotiated and moved ahead of the Pac-12. That conference and his same deal with two networks expires in 2024.

“It’s a smart move [the Big 12]said the veteran media rights negotiator. …not binding either side. “

What it does do is create the potential for the Big 12 to jump over the Pac-12 in those negotiations.ESPN and Fox are expected to meet the Big 12 within the next week or two, sources told CBS. told sports.

“The meeting is imminent,” said a person familiar with the rapidly evolving process.

Big 12 won’t be able to sign bidders other than ESPN and Fox until early 2024

“It’s an exciting time for collegiate athletics and given the changing circumstances, we will decide whether an early extension is in the best interest of all parties,” said Big 12 Commissioner Brett Jormak. We welcome the opportunity to work with our partners to help.”

Underscoring the urgency of the process, lively conversations are underway as the Big 12 consider allowing Oklahoma and Texas to end the meeting early for the SEC, says CBS I know sports. The two schools have been bound to the Big 12 for three more seasons via media rights agreements.

“This is definitely a piece of this puzzle, the separation of this OU and Texas,” said a source familiar with the discussion. “These conversations are definitely taking place and making accessible progress.”

If Oklahoma and Texas eventually leave the Big 12 early, Fox will recover fully financially by losing two profitable TV ratings winners by the end of their contracts in 2025. may have to. Fox’s Big 12 ratings are based on these schools. Stay for the next 3 seasons. There are also Big 12 early exit penalties that we consider to be breaking pre-existing entitlements that need to be negotiated. Grant of Rights binds the school’s telecast rights to the conference if the school leaves before the term of the Media Rights Agreement.

Up to this point, sources in Oklahoma, Texas, the Big 12, and the SEC have continued to assert that the program is intended to remain in the Big 12 during the current course of trading before moving to the SEC. .

In moving to open media rights negotiations, one industry source said the Big 12 had [the] BYU, Cincinnati, Houston, and UCF join the league.

The same cannot be said for the remaining ten Pac-12 teams. When USC and UCLA leave in 2024, the conference is losing a significant Los Angeles market in terms of the league’s media rights valuation.

An exclusive Pac-12 negotiation window with ESPN and Fox expired earlier this month amid uncertainty over the league’s future. It is viable.

There is ongoing talk within the industry that Big Ten commissioner Kevin Warren continues to pursue California, Oregon, Stanford and Washington to some extent in another round. Potential Big Ten ExpansionRightsholders are against such a move, but the fact that Pac-12 hasn’t signed a deal shows that at least the school has a choice.

“Obviously the Pac-12 may be considering replacing UCLA and USC, but perhaps the Big 12 are happy with their membership,” ESPN executive Burke Magnus said last week. said on the Sports Business Journal podcast. “It’s not necessarily about reorganizing or getting new memberships.”

The ultimate irony: In May 2020, Texas Tech University President Lawrence Schovanek revealed that the Big 12 were trying to negotiate a new deal. At that time, the meeting was refused. As a result, two months later, news leaked that its two flagship universities were leaving for the SEC.

That rekindled the reorganization of the conference and brought us to this point with another irony. Media Copyright Advisor Endeavor, which ran on the Pac-12 last year, now runs on the Big 12.

Pac-12 ultimately decided not to add a Big 12 program. This is after the Big 12 conference was marred by losses in Oklahoma and Texas. Sources say Endeavor is now advising the Big 12 that he seriously considers adding the Pac-12 team.

Given that ESPN lost its bid for the rights to the Big Ten, industry sources indicated that ESPN could be somewhat of a “kingmaker” in determining the future of the Big 12 and Pac-12. I’m here.

ESPN wants games in what they call a “fourth window.” This is a game that starts after 10pm ET. The Pac-12 can provide that, but it won’t necessarily match the teams playing in the current conference. reported that

There are still factions within the conference that want to expand. However, industry sources stress that combining the Pac-12 and Big 12 teams does not mean that each school will receive additional income. These sources valued the program’s annual entitlement at these conferences in the range of $21 million to $35 million per year. The Big 12 expects him to make $44 million per school in the final year of his current contract.

Under the new Monster deal, Big Ten schools will earn an average of $75 million a year.

No matter what happens, the Big 12 and Pac-12 will slash their current rights fees in light of the departures of Oklahoma, Texas, UCLA, and USC.

Sources warn that if Warren succeeds in taking over the Pac-12’s four schools, it would be logical for the Big 12 to swoop in and take over four of their own. This forced the Pac-12 to expand, most likely Mountain West. San Diego and Fresno are prominently mentioned.

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