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Big Ten media rights: Full financial details for historic package revealed, per report
By Paul Harvey
Published:
The Big Ten media rights package is complete with the conference releasing a historic announcement Thursday.
The new media deal for the B1G includes multiple media partners and runs through the 2029-30 season. Included in that package, CBS and NBC enter the mix alongside FOX and the Big Ten Network.
According to Michael Smith with Sports Business Journal, the full financial figures for the deal are over $8 billion. That makes the new agreement the most lucrative conference media deal in the history of college athletics.
BREAKING: The Big Ten finalized media rights contracts with CBS, Fox, and NBC for $8B over seven years 📺
This is the most lucrative conference media rights deal in history of college athletics 💰
(via @SmittySBJ)https://t.co/b5dBJEPvNj pic.twitter.com/LiNmoHyJnl
— Sports Business Journal (@SBJ) August 18, 2022
To put that into perspective, the last media deal signed by the B1G paid out $440 million annually. That means the B1G’s new deal will almost triple what the conference was previously receiving.
THE CONFERENCE IN ITS PREVIOUS MEDIA RIGHTS DEALS WITH FOX AND ESPN WAS MAKING $440 MILLION PER YEAR, MEANING THE NEW DEALS WILL PROVIDE THE BIG TEN WITH NEARLY A THREE-TIMES INCREASE STARTING WITH THE 2023-24 SEASON AND GOING THROUGH THE 2029-30 FISCAL YEAR. pic.twitter.com/urqGRlYA0c
— Sports Business Journal (@SBJ) August 18, 2022
While there is no real downside to the financial figures, ESPN’s Adam Rittenberg pointed out the deal does not provide an immediate windfall for B1G schools. The revenue for B1G programs will scale up in Year 2 of the agreement (2024) when USC and UCLA join the conference with another scale going up in Year 3 (2025).
Important to note that the deal will not bring in a major financial windfall immediately for B1G schools, as CBS still completes its SEC contract in 2023. The revenue will scale up in Year 2 — USC and UCLA join the B1G — and more in Year 3 of the agreement. https://t.co/FPjCQzg4u5
— Adam Rittenberg (@ESPNRittenberg) August 18, 2022
Paul is a lifelong fan and student of all things college football. He has been covering college football since 2017 and the B1G since 2018.