B1G money: Next media rights deal could reportedly net B1G $1 billion per year
The B1G could be on the verge on making a ridiculously lucrative media rights deal. According to a report from Sports Business Journal, the conference could strike gold.
The report, which came out on Wednesday, revealed that several “well-placed sources” believe the B1G’s next media rights negotiations could net the conference $1 billion per year. That would be more than double what the current deals of FOX and ESPN pay, which is $440 million.
Per the report, CBS and NBC could be legitimate players in the next round of media rights negotiations involving the conference. From Sports Business Journal:
The Big Ten’s media contracts run through 2022-23. It has entered into an exclusive negotiating window with ESPN, but my colleague John Ourand doesn’t expect a deal to get done within this window because there is competing interest from other networks. The conference almost certainly will take its rights to the marketplace to have multiple bidders drive up the price. CBS and NBC are believed to have strong interest.
Over the years, the B1G has done an excellent job at negotiating its media rights deals for a sizable profit. This would be on a completely different level, though.