Report: Pitt Not Among ACC Schools Looking to Break Grant of Rights
PITTSBURGH -- Last summer brought unprecedented upheaval to the world of college sports, as conference realignment shook the industry and left everyone wondering what the future held for those without the money and clout to . This summer, realignment has returned to the national spotlight and the Pitt Panthers could be one of the schools left scrambling.
According to a report from Brett McMurphy of Action Network, Pitt is not one of the seven ACC schools exploring what it would take to break the conference's grant of rights agreement, which binds each school to the league.
The grant of rights deal is the biggest hurdle to schools exiting the conference and finding a new home. The contract, created in 2016, runs through 2036 and formed the basis of the ACC's media rights agreement with ESPN, the league's primary broadcast partner. The schools sold the right to air their teams' games on the ESPN family of networks in exchange for payouts from the conference.
With SEC and Big 10 schools each set to rake in more than $100 million annually from their new media rights agreements, the ACC's paltry $36 million payouts are considered non-competitive for some of the major brands in the conference. Clemson, Florida State, North Carolina, NC State, Virginia, Virginia Tech and Miami are the schools reportedly exploring what it would take to break the agreement.
Should they hope to break the agreement early, each school would owe $120 million each to the league and forfeit any television revenue, one of the biggest sources of income for Power 5 athletic departments.
These schools could be looking to leave for another conference or simply break the agreement so they can renegotiate terms with ESPN and create a more favorable media rights deal. Reports have surfaced in the past that some of these schools had explored joining the SEC and others claim they are looking to restructure the distribution of revenue to give more money to the schools that attract more viewers. As it currently stands, each school receives equal payments.
If the grant of rights deal does break, it could leave Pitt in a precarious spot as one of the few remaining members of a fractured and weaker ACC.
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