6-year contract extension with ESPN, Fox

The Big 12 reached an agreement on a six-year contract extension with ESPN and Fox worth more than $2 billion that will retain conference media rights with those networks through the 2030- 31, according to people familiar with the deal.

Two people confirmed details of the new media rights deal to The Associated Press on Sunday, speaking on condition of anonymity as the contracts have not yet been finalized and no official announcement is forthcoming. expected soon.

Sports Business Journal was the first to report that the deal would be worth $380 million a year. The Big 12 still has two years left on its current deals with Fox and ESPN.

New Big 12 commissioner Brett Yormark announced in August that he was engaging the networks in talks about an extension and just weeks ago said a new deal could be done soon.

The TV deal brings stability to a league that just over a year ago looked like it was in danger of collapsing. Oklahoma and Texas announced in the summer of 2021 that they intended to leave the Big 12 for the Southeastern Conference at the end of the current television deal, which expires in 2025.

Former Big 12 commissioner Bob Bowlsby and the conference quickly added Houston, Cincinnati, Central Florida and BYU. Those four will join next year, giving the Big 12 14 teams for at least one season.

It would cost Texas and Oklahoma tens of millions of dollars to break current contracts and leave the conference early.

Without the Longhorns and Sooners, there were concerns about the value the networks would place on the Big 12. The final two years of the current deal brings in $220 million a year.

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