If the recent series of renovations and hefty contracts for coaches were any indication, the Pac-12 media deal has been a financial boon for the conference. The most optimistic reports suggested that schools would earn up to $30 million each. But how much do we actually receive? John Canzano breaks it down.
The new ESPN/FOX contract alone results in $17.3 million per school this year, but there are some costs here that reduce the bottom line.We'll start with that $17.3 million figure in new funds.
The institutions were receiving $6 million each from revenue from the old contract, which now evaporates, so you have to take that away.= $11.3 million in new funds.
Minus an additional approximately $1.3 million each to buy out existing marketing agreements. Stanford and Oregon State, in particular, had existing agreements with Learfield Communications that cost them exactly that amount to buy out.= $10 million in new funds.
Many of the universities themselves requested "paybacks" from their athletic departments. Early on, Arizona athletic director Greg Byrne told me on the field in Tuscon before kickoff to a football game that some in his university administration were well aware of the windfall from the new deal and already asking. Not sure how much Arizona asked for, but Oregon State's athletic department had to make $6.5 million in paybacks, per athletic director Bob DeCarolis.= $3.5 million in new funds.
The Pac-12 Network resulted in an additional $800,000 in new revenue to each Pac-12 institution. This is good, and should increase in future years.= $4.3 million in new funds.
So that's about where we are --- $4.3 million in new money for the average Joe Pac-12. It's not $21 million or $30 million. This figure stands to grow in future years because the $21 million announced was averaged over 12 years of the contract. Also there won't be paybacks and buyouts moving forward. But that's a good number right now, so spend wisely.
Of course, the final amount varies from school to school. It may not be the full $17 million (plus other funds), but this is still a nice payout for the conference's athletics departments.
- Cap and Goggles recaps the NCAA Championships and highlights how the event exemplifies the reason Missy Franklin decided to become a collegiate swimmer.
- In an absolutely flabbergasting result, Cal lost 40-3 and surrendered the World Cup to UBC. This is the first time this century that Cal has failed to score a try. In fact, has Cal ever failed to score a try under Jack Clark?
- After an extremely competitive first half, the no. 2 seed Baylor pulled away from the 7-seed Bears.
- Meanwhile in Bizarro World, the men's team cruised to a 23-point lead in the first fifteen minutes en route to a 75-64 win over Arkansas.