Fox and the Big Ten are close to on an agreement for half of the conference’s media rights, accounting to a report by Sports Business News.
The report also indicates the sides have agreed to basic terms, but are still working out the final amount and length. Initial reports indicate Fox would pay $250 million per year for six years. This deal is also expected to pay each school between $40 million to $45 million a year in media rights once the new deal would start. In 2009-2010, each school received $20 million.
This deal would land Fox 25 football games and 50 basketball games to be carried by Fox and FoxSports1 staring in late 2017. Big Ten Comissioner Jim Delaney is handling negotiations for the conference, who also helped boost revenue for the Big Ten Network with the conference running through 2031-2032.
The media rights available were previously held by ESPN and CBS through separate deals expiring in early 2017. If the deal becomes final, the other half of the media rights would still be available for another broadcast partner with ESPN, CBS, NBC, and Turner being interested in part of remaining rights available. ESPN has been paying $100 million per year with their rights agreement with the Big Ten. CBS is also reported to have interest in renewing its package of men’s basketball games, currently $12 million per year.
The report also mentioned rights to the conference championship games everyone other year with this part of the rights package not finalized yet.