The Big 12 Conference is exploring a new media rights deal while it still has time left on its current deal with FOX and ESPN. Even though the conference cannot freely shop its media rights, their willingness to engage in early conversations has led to “meaningful” back-and-forths.
“So (the conference) is not a free agent,” Big 12 Commissioner Brett Yormark told the Associated Press. “I can’t go out there and talk to an Amazon or an Apple or CBS. But in a world that’s changing, why don’t we explore an early conversation which could, maybe, lead to a negotiation. And I can tell you that we’ve had meaningful conversations for the last three-plus weeks, and we’ll see where they go.”
The Big 12 still has two years left on its deals with ESPN and FOX but announced in late August that it planned to engage the two networks even prior to the exclusive negotiating window opening in February 2024.
“There’s no timetable,” Yormark said. “If we can’t get to a deal, then the fallback is 16 months from now. But I’m a big fan of ESPN. I’m a big fan of FOX. We’re at a point right now where it’s important to elevate and amplify our brand. And I think they’re the two best partners to do it.”
The Big 12 Commissioner also added that engaging in these discussions now, amidst the carousel of conference realignment, is an effort to create some clarity for the conference.
“The strategy was clarity and stability as we’re looking to grow this conference in every respect,” Yormark said. “Obviously, it has to be the right economic deal, but it’s not just about economics. It’s also about the partnership, and what it can do for our business and our brand and the profile of our schools, which is critically important to me.”
