So how did Texas, Oklahoma, the Big 12, ESPN and Fox lastly come to an settlement to permit the Longhorns and Sooners to go away for the SEC a yr early?
Several experiences detailed simply how issues went from talks being perceived as lifeless in the water to most people to a full settlement only a week later.
The Big 12 launched the essential elements of the settlement on its website online.
Sports Illustrated and the Athletic additionally reported that the Big 12 will obtain $100 million mixed from Texas and Oklahoma as a part of the compensation to permit the pair to go away a yr early. That cash will come in the type of withheld income distribution, cash the 2 faculties would have acquired in any other case.
So the place will that $100 million go? Per SI, every of the league’s eight legacy members — Baylor, Iowa State, Kansas, Kansas State, Oklahoma State, TCU, Texas Tech and West Virginia — will obtain nearly all of it as an offset to the $5-8 million in anticipated misplaced income in 2024.
As for the 4 new members — BYU, Cincinnati, Houston and UCF — it’s unlikely they’ll see any of that $100 million. Per SI, the 4 faculties are nonetheless anticipated to obtain an estimated $18 million in income share in 2023-24 and 2024-25 earlier than receiving full income shares of greater than $31 million when the brand new TV deal begins in 2025.
It’s not clear precisely how Fox and ESPN got here to its settlement. One of the reported holdups was Fox’s loss to stock with Texas and Oklahoma shifting to the SEC, as that league has an unique deal with ESPN.
One of these compromises seemingly revealed itself after the report of the settlement. ESPN’s Pete Thamel reported that Michigan and Texas adjusted its home-and-home collection.
That will enable Fox to hold the sport in 2024, as it’s the unique broadcast dwelling of the Big Ten.
You can discover Matthew Postins on Twitter @PostinsPostcard
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