Big Ten lands $7B, NFL-style TV contracts

The Big Ten’s new $7 billion media rights deal will string the conference’s top football games across three major networks each week, creating an NFLstyle television schedule on Saturdays.

The Big Ten announced Thursday it has reached seven-year agreements with Fox, CBS and NBC to share the rights to the conference’s football and basketball games.

The deals go into effect in 2023, expire in 2030 and eventually will allow the conference’s soon-to-be 16 member universities to share more than $1 billion per year, pushing the total value of the agreements past $7 billion, a person familiar with the terms told The Associated Press.

The person spoke to the AP on condition of anonymity because Big Ten and network officials were not disclosing financial details publicly, but the deal is believed to be the richest ever on an annual basis for a college sports property. The large increase in revenue to the conference won’t kick in until the third year of the deal and gradually will increase over the final five years.

The deal sets a new benchmark in the college sports arms race, which is based heavily on TV money. The Southeastern Conference has a deal with ESPN that starts in 2024 and is also worth upward of $7 billion, but over 10 years. That deal was announced before the conference moved to expand to 16 schools with the additions of Texas and Oklahoma.

The Big Ten currently has 14 members, stretching from Rutgers and Maryland on the East Coast to Nebraska across the Midwest, and covering some of the biggest media markets in the country, including New York, Philadelphia and Chicago.

In 2024, Southern California and UCLA are scheduled to join the Big Ten, adding the Los Angeles market to its footprint.