Big 12, networks agree to TV deal

13-year contract is worth $2.6 billion

The Big 12 announced a new 13-year deal Friday with ESPN and Fox Sports that is reportedly worth $2.6 billion and should provide long-term stability for a conference that once seemed on the brink of collapse.

The deal to televise football and men’s basketball through 2024-25 includes a so-called “grant of rights” by each of the league’s 10 schools. That allows the Big 12 to retain the media rights and accompanying revenue of any school that left the conference. Few would be expected to ever take such an expensive step.

“It gives us a very public and very business-oriented substantiation of the commitment that our 10 institutions have to one another privately,” Big 12 commissioner Bob Bowlsby said. “I think many were concerned that we were going to come off the rails again at some point in time. I think this demonstrates that that’s not going to happen, that we’re going to be partners for a long, long time.”

Terms weren’t released, but ESPN cited anonymous sources in reporting the contract was worth an average of about $20 million per school each year.

“This is a strong television package and brings great exposure and financial rewards to the Big 12 and its members,” West Virginia athletic director Oliver Luck said. “The joint television agreement with two highly acclaimed national media partners speaks to the strength, success and stability of the Big 12 Conference. This TV package places the Big 12 among the highest, in per member revenue, and West Virginia looks forward to being a proud member of the league, not only in our inaugural season but for years to come.”