The Big Ten shocked the sports world when it ended a 40-year media partnership with ESPN. No one was weeping for the conference, though, as reports emerged that it was nearing a new deal with the likes of Fox, NBC and CBS. Well, that's exactly what came to fruition on Thursday. The Big Ten announced a deal worth billions with multiple top networks involved, as reported by Sports Illustrated.
“The long-awaited Big Ten media rights deal is now official and, as anticipated, it is a revenue geyser: a seven-year agreement with multiple broadcast partners worth more than $7 billion plus escalators, sources told Sports Illustrated. The back-loaded deal, which begins in 2023, averages out to more than $1 billion annually.”
It's a monster agreement for the Big Ten, which is set to earn $1 billion annually in the TV deal with Fox, NBC and CBS. In total, it's a staggering, seven-year, $7 billion deal- with escalators that could earn the network even more Benjamins.
Starting in 2023-24, Big Ten sports will be available on Fox, FS1 and the Big Ten Network, CBS, NBC and the affiliate Peacock. Meanwhile, ESPN has reportedly prioritized the SEC in their own negotiations.
Realignment has come for the college football conferences. Now, it's coming for the conference's TV deals with networks, too! And there could be more on the way.
SI reported that the conference said they are “not done expanding.” They could be looking to add another big school or two after securing the biggest TV deal in the land.
One thing is clear. The Big Ten has billions of reasons to be excited for the future, whatever it may hold.
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