Tuesday, May 3, 2011

Pac 12 gets sick amount of money for TV rights

A Pac 12 logo
((ht: san jose mercury news/nytimes.com))

**UPDATED**12:25pm Tuesday--

According to the New York Times, we undercounted in the story below. (We always sucked at math anyway)

The Bell weather of all things newspaper reports the deal is closer to $3 billion than $2.7 for 12 years. But hey, what's a couple mill amongst the billionaire club anyway?

The New York Times story is RIGHT HERE

The league will also apparently create its own network, one they'll have complete ownership of. However the premium games (football and basketball), they'll still rotate between ESPN and FOX.

And yes, the numbers here are still obscene. They dwarf the NHL and are pretty close to...if not are better than the NBA and Major League Baseball deals...

----------------ORIGINAL STORY------------------

The TV rights thing for college sports...is officially crossed into obscene territory.

According to multiple reports, the Pac 12 (former Pac 10) has gotten their TV deal. And it's for a lot of money. Several billion worth of a lot of money. About $2.7 billion to be more specific.

That works out to $225 million a year or about $19 million for each school. (No, I'm not that good at math, I can read stories and punch numbers into a calculator though)

And...get this. Fox and ESPN are sharing the rights.

We don't know exactly how that will play out yet. Partially because commissioner Larry Scott hasn't laid out the details of the deal yet. But we do know that this is the biggest rights deal in College Football history. Bar none. And it scares us to think that the SEC is now being dwarfed by this.

The Pac 12/10 is currently meeting in Phoenix and an announcement is scheduled sometime today. We'll update the details of this story then.

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