Big Ten releases statement regarding state of media rights negotiations

On3 imageby:Nick Schultz08/09/22

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Rumors and reports are swirling about the Big Ten’s looming media rights deal. Tuesday, the league released a statement making one thing clear: nothing is finalized — yet.

Reports came out Monday saying the league is closing in on agreements with NBC and CBS. Then, on Tuesday, Sports Business Journal’s John Ourand reported ESPN backed out of the negotiations, setting the stage for the other two networks to potentially join Fox as part of the deal.

But, as the conference said in its statement, the situation is still fluid.

“The Big Ten Conference is currently working with world-class partners to complete the multifaceted media rights agreements,” the statement read. “The overall constructs of the new rights agreements have not been finalized. The conference continues to have productive meetings with both linear and direct to consumer media partners.

“We are committed to delivering unparalleled resources and exposure opportunities for Big Ten Conference member institutions, athletic programs, student-athletes, coaches and fans. We are very thankful to the media companies who recognize the value of Big Ten programming and want to deliver it to our fans around the world in a forward-thinking manner.”

Report: ESPN backs out of Big Ten media rights negotiations, rejects massive financial figure

ESPN is reportedly walking away from a seven-year, nearly $400 million per year deal, according to Ourand. Later, Sports Illustrated’s Ross Dellenger added the offer was for about 13 games, which is half of the current 27-game package, and included the second- and third-best games on the Big Ten slate. ESPN’s primetime window would’ve also been impacted, Dellenger said.

ESPN said no, and pulled out of the negotiations entirely, potentially setting the stage for CBS and NBC to swoop in, as previously reported by the New York Post’s Andrew Marchand.

It also means ESPN won’t have any Big Ten football or basketball games for the first time in 40 years.

To put it in perspective, ESPN currently pays the Big Ten $190 million per year, according to The Athletic’s Stewart Mandel. The latest offer would’ve been double that number. In addition, CBS is reportedly gearing up to offer a figure in the “neighborhood” of $350 million to air Big Ten games in its 3:30 p.m. ET time slot, which currently showcases SEC games.

Now, the question is what’s next for ESPN. Marchand reported Monday night that the network could target the Big 12 or the Pac-12 for potential media deals to deal with losing the Big Ten.