They wanted to get to the Billion number, so they signed a 12 year deal. Longer than you should sign, because as the market rises, you’re stuck with the old deal.
The other issue is, yes, they get to say that ESPN pays them $7 mil per school, but what they don’t tell you often is they have to pay for their own video production.
Hard to saw how much that is, but the $7 mil is gross, not net.