ESPNs old contract with the Big 12 ran through 2016, but the two sides are close on a nine-year extension that will increase the conferences average revenue from its current $150 million a year to nearly $200 million annually. Each Big 12 school stands to make roughly $5 million more a year in the new contract over the old deal.
We have an existing agreement with the Big 12 that has four years remaining, said Mike Soltys, ESPN vice president of communications. We are in regular conversations with all our partners about future opportunities. Theres nothing beyond that.
The Big 12s potential revenue windfall comes on the heels of mass upheaval for the conference, which has lost Texas A&M and Missouri to the SEC, while adding TCU from the Mountain West and West Virginia from the Big East to stay at 10 teams.
Additionally, the new media revenue could effectively end any discussion of the Big 12 expanding back to 12 teams