BRISTOL, Conn.—ESPN.com is reporting that the Big 12 is close to extending its current television contract with ESPN and Fox.
Citing unnamed ESPN sources the website said that “the league is in the final stages of putting together a six-year, $2.28 billion contract extension that includes a sizable pay bump for schools. The new contract, which takes hold starting in 2025, includes ESPN owning more than 60 percent of the inventory and Fox adding a sizable portion of college basketball.”
ESPN.com also noted that the contract extension was first reported by the Sports Business Journal.
The deal, if completed, would produce a notable increase in TV revenue for each school.
“The overall value of the Big 12's media deal is expected to increase from $220 million annually to $380 million,” ESPN.com reported. “That's an average increase in media-only revenue per school from $22 million to $31.7 million (the $380 million is now divided 12 ways with the addition of BYU, UCF, Cincinnati and Houston).
Currently schools get about $42.6 million.
