It's the latest piece in a remarkable turnaround for the Big 12. On Friday, the conference announced a new 13-year TV deal on Friday. The agreement is valued at $2.6 billion.
Representatives from the league's 10 schools, which include KU and K-State, signed off on the deal Friday morning.
"The stability of the Big 12 Conference is cemented," said commissioner Bob Bowlsby. "We are positioned with one of the best media rights arrangements in collegiate sports, providing the Conference and its members unprecedented revenue growth, and sports programming over two networks."
The deal is worth $200 million each year through 2025. Each school will receive $20 million annually. According to the Big 12's website, the agreement includes:
- An increase in the number of guaranteed full national football telecasts to a minimum of 25 per season on a combination of ABC, FOX, ESPN and FX.
- Allows FOX over-the-air access to Big 12 football with a minimum of six games annually on broadcast television.
- Allows ESPN Cable Access to Big 12 Football for ESPN, ESPN2 & ESPNU.
- Provides FOX with enhanced selections through 2015. ESPN and FOX share rotating game selections beginning in 2016.
- All media, "TV everywhere" rights to ESPN and FOX.
If a school leaves the Big 12 (think Texas A&M and Missouri), the Big 12 would continue to own that school's media rights for more than a decade.
The TV deal has been in the works for months. It was a key priority for interim Big 12 Commissioner Chuck Neinas, who replaced Dan Beebe after he was ousted amid conference turmoil last year. Neinas is largely credited with saving and stabilizing the conference after the departures of Colorado, Nebraska, Texas A&M and Missouri.
"Today's announcement, coupled with the hiring of Bob Bowlsby as our league's new commissioner, is a great example of how well the Big 12 is positioned for the future," added University of Texas athletics director and chairman of the Big 12 Athletics Directors, DeLoss Dodds. "This contract ensures the Big 12 Conference will continue to be one of the premier conferences in the country."
TCU and West Virginia joined the Big 12 this fall. Former Stanford Athletic Director Bob Bowlsby replaced Neinas in June and worked to complete the deal.