Big off-field news emerged on Sunday morning. The Big 12 Conference struck a deal with ESPN and Fox Sports, a six-year media rights package which had been a central topic of discussion in the college sports world.
The Big 12’s deal is a $380 million annual package, which translates to just under $31.7 million for each of the 12 schools which will be part of the conference after Texas and Oklahoma leave. BYU, UCF, Cincinnati, and Houston will join the eight current non-Texas, non-OU schools. 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.
Let’s go through the numbers and the meaning of the deal, as relayed by Jon Wilner and other industry insiders: