Big 12′s record revenue of $426 million illustrates top priority for new commissioner

IRVING — The Big 12′s newest revenue announcement illustrated simply how useful the present TV deal has been to the convention.

It additionally confirmed that the following media rights contract shall be a top priority for the new commissioner, who the Big 12 hopes to have named by soccer media days July 13-14 at AT&T Stadium.

At the tip of its spring conferences Friday, the Big 12 introduced record revenue of $426 million, which is able to common about $42.6 million per the ten present members. The determine represents an $81 million improve (23.5%) over final yr’s numbers, which have been impacted by COVID-19. In the final non-COVID season of 2018-19, the Big 12 introduced $388 million in whole revenue.

“We find ourselves in a very strong position today,” mentioned Texas Tech President Lawrence Schovanec, the chairman of the Big 12 board of administrators.

And probably till the tip of the present media rights take care of ESPN and Fox, which expires after the 2024-25 educational yr. By then, the Big 12 may very well be taking a look at revenue of almost $500 million.

Of course, that’s additionally the purpose the place Texas and Oklahoma are scheduled to depart for the SEC, if not sooner, taking the convention’s two largest nationwide presences with them.

“We won’t know until we go to the market as to whether it is as strong,” outgoing Commissioner Bob Bowlsby mentioned. “Intuitively, you say there are two bell cows that have left and they’re going to take some value with then.”

No one is aware of precisely how a lot. Bowlsby has backed off his assertion earlier than a Texas legislative committee that the 2 represented 50% of the Big 12′s media rights valuation.

Yes, the Big 12 may have 4 new members by the point the new media rights deal happens, with BYU, Houston, Cincinnati and UCF having joined the league.

“TV rights are only worth what anybody will pay for it,” Bowlsby mentioned. “The circumstances matter and the situation matters and it’s too early to forecast if the next rounds of negotiations are going to be a lot more or a little more or going to be flat.”

Currently, the Big 12 is way behind the SEC and Big Ten in per faculty revenue however forward of the Pac-12 and ACC among the many energy conferences — a pleasant middle-class existence.

Of course, Bowlsby shall be lengthy passed by that time with another person steering the ship.

Schovanec is main a three-person government search committee, with Baylor President Linda Livingstone and Kansas Chancellor Douglas Girod.

Search agency Turnkey has gathered a quantity of candidates and interviews are anticipated to start quickly. Schovanec up to date the Big 12 board on the search in an government session Friday.

“We’re very pleased with the quality of the pool and the progress we’ve made,” Schovanec mentioned. “Our goal is to announce at Big 12 media days in July, and we’re on track to do that.”

Then the new commissioner will begin trying for a new take care of a unique membership lineup throughout three time zones and a altering setting that features every thing from conventional networks to streaming to who is aware of what.

“The financial aspects of this are very important to the health and vitality of our athletic programs,” Schovanec mentioned. “We know that. And that’s why what we do past ‘24-25 is going to be so important. We recognize that the manner in which this inventory will be distributed is going to change”

Texas, OU timetable: Texas and Oklahoma are scheduled to depart for the SEC by July 1, 2025, although there has been constant speculation about an earlier departure.

“It would be premature to even speculate how that might play out,” Schovanec said. “Obviously we’ve met, we’ve had discussions nevertheless it’s method too early to conjecture how which will play out.”

Staying in Kansas City: The Big 12 males’s and girls’s basketball event will keep in Kansas City by way of 2027, the league introduced.

There is one change. Beginning in 2024, the ladies will transfer from venerable Municipal Auditorium to the T-Mobile Center and the event shall be held on 5 days simply earlier than the lads’s event. Both tournaments are including an additional day of competitors to account for probably a 14-team discipline.”

Bowlsby honored: The Sportsmanship Trophy given to the Big 12′s top female and male athlete every year will now be renamed in honor of Bowlsby, who has served as commissioner for a decade.

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