After months of negotiations, the Pac-12 yesterday presented teams with a media rights deal. According to ESPN’s Pete Thamel and Heather Dinich, this deal was for a primary streaming partnership with Apple TV+. Other options had been presented, but Apple was reportedly the clear leader.
The Pac-12 media rights talks have hit several setbacks over the last few months. First with USC along with UCLA announcing they will leave for the Big 10 next year and now Calorado leaving for the Big 12.
At issue here is the need to now get the teams to agree to the deal. Also at issue may be the ability to keep teams in the Pac-12 as it was reported the deal was not very profitable for teams compared to other leagues. It has been rumored that teams in the Pac-12 could make as little as $20 million per year. That is a hard offer to accept for teams like Arizona, who reportedly are looking at the Big 12 a move that could make them $31.7 million per year.
ESPN and Fox currently have media rights deals for Pac-12 that will expire on July 1st, 2024. ESPN has been rumored to be open to airing a handful of major Pac-12 games a year but it is reportedly not interested in making a huge investment into the Pac-12.
Apple TV+ reportedly sees Pac-12 football and basketball as a way to help grow its streaming service. The Pac-12 could be offered in a very similar way to what we have seen with Apple TV+’s MLS deal.
There is still an open door for The CW to get some of the TV rights, but exactly how that will work out is unknown at this time. The CW recently reached a deal to air a handful of ACC football and basketball games. This would help it expand its sports brand, which has recently reached deals with LIV Golf, and NASCAR.
This new media rights deal for Pac-12 football and basketball are scheduled to begin in 2024. For now the question maybe will there even be a Pac-12 as a growing number of teams have already left the conference, and others are looking at new other options.