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Big 12 Conference Enters Media Rights Discussions Early
Aug 31, 2022, 8:37 AM | Updated: 8:38 am
Big 12 Conference dished out $440 million in revenue for the 2022-23 year. (Photo by Tim Warner/Getty Images)
(Photo by Tim Warner/Getty Images)
SALT LAKE CITY – The Big 12 Conference continues to live up to its new motto, “open for business.”
🚨 The Big 12 Conference announces it will be entering into discussions with its multi-media partners to explore an accelerated extension of its current agreements.
📰 https://t.co/m8APgxTFWK | #Big12 pic.twitter.com/UUKNwshRRf
— Big 12 Conference (@Big12Conference) August 31, 2022
Big 12 announced on Wednesday that the league is entering into discussions with its multi-media partners to “explore an accelerated extension of its current agreements.”
The existing Big 12 media rights run through June 30, 2025. Before Wednesday, the Big 12 wasn’t scheduled to hit negotiations with ESPN and FOX until February 2024.
”It is an exciting time for college athletics and given the changing landscape we welcome the opportunity to engage with our partners to determine if any early extension is in the best interest of all parties,” said Big 12 Commissioner Brett Yormark in a statement. “The Big 12 has enjoyed a fantastic relationship with its multi-media rights holders, and I look forward to having these conversations.”
Big 12 Conference announces it will enter into discussions with its television media partners to “explore an accelerated extension of its current agreements.”
Before this move, the #Big12 wasn’t scheduled to begin talks until February 2024.
— Mitch Harper (@Mitch_Harper) August 31, 2022
According to Action Network’s Brett McMurphy, the Big 12 will engage in talks with ESPN next week and FOX after Labor Day.
Big 12 Conference seeking media rights extension amid conference realignment
The Big 12 entering media rights talks comes at a time where the Pac-12 Conference is holding negotiations with their potential media rights partners.
An extension of its existing media rights could give the Big 12 Conference an opportunity to have data to show Pac-12 schools for potential conference realignment moves.
The Big 12 Conference is gearing up to welcome BYU, Cincinnati, UCF, and Houston beginning on July 1, 2023. Those four schools were added to the league after Texas and Oklahoma declared they are leaving for the SEC in 2025.
No higher priority for the Big 12 than its media rights
When Yormark made his introduction as conference commissioner at Big 12 Media Days in July, he noted that the media rights for the league is a top priority for him and his league members.
”One thing is crystal clear: There is no higher priority than to best position the Big 12 for its upcoming multimedia rights negotiations,” Yormark said in July. “Everything we do must create momentum for these negotiations, as well as building the value of the Big 12 brand and business.”
When Yormark was announced as commissioner in June, Fox Sports CEO and Executive Producer Eric Shanks gave high praise to the hiring of Yormark and also said, “…we look forward to continuing to build on our relationship as a premier partner of the Big 12.”
While many potential media rights holders are out there from streaming entities, it’s believed that linear will still be the top piece to the Big 12’s media rights in the future.
”I’ve had a working relationship with ESPN and FOX for many years. I’m big fans of what they do. They’re the best in the business,” Yormark said in July. “I look forward to at the right time engaging with them on meaningful conversations on how we can enhance and amplify the value equation and how they glamorize and promote and market our great conference.”
Mitch Harper is a BYU Insider for KSLsports.com and host of the Cougar Tracks Podcast (SUBSCRIBE) and Cougar Sports Saturday (Saturday from 12–3 p.m.) on KSL Newsradio. Follow him on Twitter: @Mitch_Harper.
