PHOENIX - The Pac-10 Conference agreed to the biggest TV deal in college history Wednesday, signing a 12-year contract with ESPN and FOX worth nearly $3 billion.

With Utah and Colorado on board and the official name change just over 56 days away, the $250 million a year landmark deal is definitely more than just a splash for the Pac-12 Conference in the BCS pool.

By signing with ESPN and FOX, media rights for the conference have skyrocketed in comparison to the previous Pac-10 deal ($60 million per year). Not only has the Pac-12 quadrupled its television revenues by resigning with the two broadcasting giants, the Pac-12 will also fully own their own network that will be used to broadcast non-ESPN/FOX games as well as Olympic sports.

Financially, Pac-12 universities will receive $21 million annually from the television deal - a huge asset while most schools across the country are forced to make budget cuts.

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Pac-12 announces landmark TV partnership with ESPN, Fox

Larry Scott unfurled his latest and greatest ground stroke on Wednesday, announcing the launch of the conference's own television network and a joint 12-year deal with ESPN and Fox that's the richest in college sports at a hefty $3 billion.

"At a time when universities, and especially state universities, find themselves greatly challenged to meet budget commitments, an arrangement that will secure an important revenue and exposure stream over a 12-year period is especially helpful, not only for athletics but for our academic programs as well," Larry Scott said.

"We are especially proud of the commitment it reflects to equal revenue sharing across all our member universities, reflecting the core values of our Conference. This is truly a great day for our students, alumni, and fans everywhere."

However, its not the huge leap in revenue that has fans excited - it is the media exposure. Between ESPN, FOX and the Pac-12 Network, every football and men's basketball game will be aired. In addition, several women's basketball games and Olympic sports will be televised.

The Pac-12 is just the latest conference to capitalize on the escalating television revenues. The Southeastern Conference (SEC) struck first, signing two 15 year deals - one with ESPN, the other with CBS - worth $205 million a year through the 2023-24 season.

Other conference television revenues: Big Ten - $220 million a year; ACC - $155 million a year; Big 12 - $130 million a year.

Previously, while under contract with the Mountain West Conference, Utah was only entitled to about $1.2 million a year in television revenue through the conference's deal with Comcast/CBS. And as far as exposure ... well, do we really need to go there?

Going forward, Utah will be receiving plenty of national exposure from ESPN, FOX and the Pac-12 network. Every Utah football and men's basketball game will be broadcast (yes, you will actually be able to see the games and not reruns of Colorado State women's volleyball), along with numerous women's basketball games and Olympic sports.

The Utes definitely could not have asked for a better deal. Not only will fans be able to watch games, but the school gets an extra $20 million a year in television revenue.

So yes Utah, you can have your cake and eat it too.

Email: rojackson@ksl.com
Twitter: @rojackKSL

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