ESPN buys second half of Big Ten’s media rights package
ESPN has agreed to purchase the second half of the Big Ten conference’s media rights package for about $190 million per year, according to the Sports Business Journal.
The deal is set in place for six years as Fox Sports has taken the other half of the rights package for $240 million per year. ESPN will pay an average of $190 million per year over six years for essentially half the conference’s media rights package, according to several sources close to the talks. CBS Sports plans to renew its basketball coverage for $10 million per year, according to SBJ.
ESPN and Fox will air about 25 football games and 50 basketball games under the new agreement.
As a result of the new deals, the Big Ten has tripled its revenue from television deals.
The deals are expected to be finalized before the end of July.