According to sources, the Big 12 is close to an extension of its television contract.
A six-year, $2.28 billion contract extension is in the final stages of being put together by the league. Fox will add a sizable portion of college basketball as part of the new contract that will take hold in 2025.
The contract is close to completion, according to the Sports Business Journal.
The Big 12 will make a big increase in media revenue after Oklahoma and Texas leave the league. The league is expected to agree to a grant of rights with its members for the duration of the deal, according to a source.
The value of the Big 12's media deal is expected to go up. The media-only revenue per school increased from $22 million to $31.7 million with the addition of the four new schools.
The Big 12 has an overall distribution number of $42.6 million per school. The number is subject to many variables, such as NCAA tournament units, bowl revenue and College Football Playoff revenue.
The per-school revenue is projected to increase to over $50 million by the year 26. Depending on how much money the College Football Playoff gets, that number could be much larger.
The Big 12 is seen as a continued player in college athletics. It makes it a viable entity and keeps it strong in college athletics.
Bob Bowlsby, the former Big 12 commissioner, told Texas lawmakers that the league could lose 50 percent of its media revenue after Oklahoma and Texas left.
This move to extend with the Big 12's current television partners is a result of new commissioner Yormark's aggressive push since arriving in office and declaring the Big 12 open for business.
Yormark was able to negotiate with the current television partners before the exclusive negotiating window opened. The framework of a deal was announced by the league on August 31st, which is earlier than the Pac-12, which has a deal that expires at the end of the year.
The Big 12 has stability thanks to the transition of the two schools out and four schools in. It increases revenue
The Big 12 didn't go to the open market because it didn't expose the league to outside bids and could have yielded more money for the league in the long term. The visibility and security of the league is given by it.
It will have access to both the most inventory and the league's top games thanks to the increase in investment by Disney. The A package includes the top four football picks each season and 12 of the top 20. There are 26 football games Fox has each year. The Big 12 football championship and the men's and women's basketball championship are owned by the cable network.
Big 12 basketball is going to be included in the package along with Big 12 football. The Big 12 has been the country's top men's basketball conference in recent years, with Texas Tech losing the title game in overtime in 2019.
There should be consistent revenue from the NCAA tournament for the league because of the recent basketball history of Houston, Cincinnati and BYU.
The focus will now be on the Pac-12, which has been linked to a possible partnership with Amazon. Fox has access to USC and UCLA games through the Big Ten deal, so it was only linked to the Pac-12. In the wake of this commitment, the interest level in the league will be monitored.
One year after the Big Ten's record-setting deal expires, the Big 12's deal will come to an end. The contract for the Big 12 will come up before the SEC and ACC contracts end. The end of third tier rights for the Big 12 will be marked by this extension. The third-tier rights won't be sold by the schools, they'll be sold to Disney.
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