Conference officials are quietly confident, but is the optimism misplaced?
Jon Wilner The San Jose Mercury News The news broke Sunday before dawn on the West Coast, straight from the Southern Plains: Moving swiftly and strategically, the Big 12 locked in a media rights contract with ESPN and Fox reportedly worth $2.3 billion over six years.
A deal remains weeks, and perhaps months, away. Yet here comes the Big 12, cutting in line to feed at the media rights revenue trough. But Yormark’s creative approach provides the Big 12 with a deal in hand — a deal that he can dangle in front of any Pac-12 president unhappy with the contract terms Kliavkoff eventually presents to the group.
The agreement gives them cost certainty with an important property at a lower price than they would have paid had the Big 12 followed the Pac-12’s approach and taken its media rights to the open market.While the average annual value would hardly qualify as transformative revenue for any Pac-12 school that develops a wandering eye, that’s a secondary consideration.
In fact, the schools are expecting a notably higher valuation figure, according to sources: at least $35 million per campus per year and perhaps something in the $40 million range.“They are overconfident,” said one industry source.That said, only Kliavkoff and an extraordinarily small circle of advisors know the true state of the negotiations. The Pac-12 very well could have offers in hand, or narrow valuation ranges, that support the internal confidence.
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