Massive new Media Rights deal…for 6 years.
Breaking: Media Rights Contract update:
Big East announces new 6-year media rights deal! June 27, 2024 Update!
https://www.bigeast.com/news/2024/6/27/general-big-east-announces-new-media-rights-agreement.aspx
2013 – The BEast was grossly lowballed by the new Fox/FS1 channels @ $500M/12yrs, $4.1M/school/yr. Those figures equated to Tier 4 dollars, even in 2013. Conference went on to achieve 4 National Championships in the last 8 years, with an average of 5 NCAA bids per season.
The Big East Conference has routinely achieved the highest sports/basketball standards and has outperformed the other major conferences most of these last 12 years. A more lucrative media rights contract is in order, with the Big East getting Tier One dollars this time around.
We now have Fox, along with NBC and TNT as partners…CBS dropped out as unable to secure the percentages they wanted. Although the contracts have not be finalized, such efforts are currently underway. Mark Zanetto (Locked On UConn, 25 June 2024) stated (thru leaks?) that the Big East is about to secure a contract near the $1.0 Billion mark. https://www.youtube.com/watch?v=Wj6103Ki4VA
The new 6 year contract…according to Zanetto & his sources: “is supposed to have a significant rights fees increase, almost to that $1 Billion mark, over a six year period. This is a huge windfall for the Big East!” Said contract should have the routine ‘expandibility’ clause for any new accessions. Should these rumors hold true, the Big East becomes the preferred landing spots for ACC Leftovers- Indy football Notre Dame, Duke, Syracuse, possibly 1 or 2 more. This contract would exceed a revamped ACC contract (which would fall into the AAC/C-USA/A-10 ranges), greasing the skids for some of the ACC leftovers to further abandon ship.
Mark Zanetto (Locked On UConn, 25 June 2024)
Main Topic: Big East Media Deal Media Partners and Financial Terms:
The Big East’s current deal with Fox and CBS (12 years, $500M) is ending. The new deal sees significant rights fee increases, underscoring the growing value of Big East sports. Fox remains the lead network, continuing its long-standing partnership with the Big East. CBS exits, replaced by NBC and TNT, diversifying media partners and likely enhancing exposure.
Importance for the Big East: Securing this deal is crucial for the Big East’s stability, especially as college sports media contracts become increasingly lucrative. Unlike power conferences with football, the Big East relies solely on basketball, making successful media negotiations vital. Comparison to Other Conferences: The Big Ten and SEC have massive deals worth over $1B annually, highlighting financial disparities. The Big East, without football, occupies a unique position but strengthens its stature through basketball success.
Challenges and Antitrust Issues: The Big East faces challenges from a recent antitrust settlement requiring non-Power Five schools to cover 35% of nearly $2.8B owed to former athletes. This financial strain adds to the importance of securing favorable media deals.
Implications for UConn (the Big East) and Beyond: Stability for the next six years is assured, but the landscape of college sports after that remains uncertain. This deal may quiet any ACC/Big East or UConn to the Big 12 rumors. Long-term planning remains critical, as the future of the Big East past this deal is unpredictable. Recruiting Insights and Player Profiles.
Hmmm. The old
$500 M, over 6 yrs (rather than 12)-= $83.3M/yr Div by 11= $7.6M/school/yr.
$600M over 6 yrs = $100</yr. $100M div by 11 = $9.1M/school/yr.
$700M over 6 yrs = $116.7M/yr. $116.7M div by 11 = $10.6/school/yr.
$800M over 6 yrs = $133.3M/year. $133.3M div by 11= $12.1M/school/yr.
$900M over 6 yrs = $150M/yr…div by 11 = $13.6M/school/yr.
$1B over 6 yrs = S166.6M/yr. $166.6M div by 11 = $15.2M/school/yr.
I and a few others have been kicking this can down the road since 2017-18. Back in da day I was guesstimating between $9 Mill – $11 Million with performance upticks by the conference. Posted over the years (mainly in realignment threads) both on the Bluejay Underground and the Holy Land of Hoops boards. My most recent post on this was saying that a new contract would be the old $500 million over 6 years. Roughly $7.5 Mill or so per school, per yer.
Recently Andrew Marchand had a piece on the new contract also:
Great news for the Big East if this holds true.
Bluenotes 