[image via images.politico.com]
Remember, a few weeks ago, when I said WVU to the Big 12 meant big money? Well, after reports yesterday, that statement is closer to becoming a reality. In short, the Big 12 is close to reaching a contract extension with ESPN for broadcasting rights through 2025, which would coincide with the league's Fox contract. The Fox deal is worth $1.2 billion and the ESPN deal would be worth $1.3 billion. While it's not quite PAC-12 money...it's awful damn close. This works out to just under $20 million per school per year, assuming the Big 12 doesn't expand again and this deal might actually discourage that from happening.
What does this mean, exactly, for WVU? Well, if you remember, WVU is entering the Big 12 revenue streams incrementally over the next four years. Here's the math:
- 50% share 2012 = $10 million
- 67% share 2013 = $13.4 million
- 84% share 2014 = $16.8 million
- 100% share 2015 = $20 million
As I said before, WVU also has
$9 million in Big East buyout loans to repay the Big 12 , so that has to be figured in as well. But, even at 50% share this year and repayments (from further research, only $5 million has to be repaid, will be repaid in $1 million increments after full share status)...that's still as good or better than the best year ever in the Big East. I think it's fair to say we're going to enjoy our time in the Big 12 based on these numbers.