The Big 12 is reportedly taking its first steps towards its next television deal.
The league announced on Wednesday it plans to engage ESPN and Fox in negotiations to extend its current media rights agreement with its two partners, according to a report from ESPN’s Pete Thamel.
“It is an exciting time for college athletics and given the changing landscape we welcome the opportunity to engage with our partners to determine if an early extension is in the best interest of all parties,” Big 12 commissioner Brett Yormark said in a press release. “The Big 12 has enjoyed a fantastic relationship with its multi-media rights holders, and I look forward to having these conversations.”
This is a significant first step for the league and its television partners with more than a year and a half left before the official exclusive negotiating window was set to open. The step will allow the league to get tangible numbers from its television partners for the schools to consider ahead of its media rights agreement’s expiration in 2025.
If the two sides cannot agree to an extension, it does not mean the talks are over as the league will still be able to negotiate during its traditional exclusive negotiation period that starts in February 2024.
The decision to go to the bargaining table undercuts the Pac-12’s current negotiating window with its television partners. Pac-12 commissioner George Kliavkoff boasted the league’s status of being next to the negotiating table as a strength for the league in fighting off potential conference expansion attempts by the Big 12.
Now, both of those leagues will have the opportunity to present tangible numbers to their member schools. What happens from there remains to be seen.
