But I can't imagine ESPN saying "don't worry, we'll pay full price for 75% of the games, go ahead and cancel the games". They're going to do what every business does in this situation and say "look, it's only 75% of the games, plus the value of the total package is more than just the individual games, we'll pay you 60%" then the Pac-12 says something like "the contract is for all our games, these are all the ones getting played, you have to pay 100%" then ESPN says "that's ridiculous, you'll lose that argument in court, but we'll pay 70%" and then it goes back and forth until they arrive at a number somewhere between 70 and 80%, depending on who has the better negotiators and who has the power.

I really doubt ESPN, with all of their cash flow problems, will just say "oh well, something is better than nothing, we'll overpay dramatically because we need to put something on TV, even if it costs us money and we don't have to do it"