Pac-12 Commissioner Presents Potential Media Rights Deal to Member Institutions, No Agreement Reached Yet
In a recent meeting, Pac-12 Commissioner George Kliavkoff presented details for a potential media rights deal to leaders from member institutions. However, according to multiple reports, no agreement was reached during the meeting. Nevertheless, both sides remain hopeful that a deal can be reached, and another meeting is planned soon.
According to ESPN, the proposed deal was streaming-centric and involved Apple. It would include incentivized tiers with certain upsides if subscription numbers are met. This suggests that the Pac-12 is considering innovative approaches to its media rights strategy.
The formal presentation came just five days after Colorado announced its intentions to return to its former home in the Big 12. This move was prompted by the uncertainty surrounding the Pac-12 and its media rights future. The Pac-12 authorized Kliavkoff to begin negotiations for a new television contract in June 2022, following the announcements of USC and UCLA’s plans to join the Big Ten in July 2024. However, until Tuesday’s meeting, the league had not presented firm numbers for a television contract to its remaining member schools.
There have been claims from various people in or around the Pac-12 that a deal would be imminent for months. Arizona State president Michael Crow stated in March that the league was in the final stages of negotiations. The Athletic also reported that a deal could come in “late spring, early summer.” However, the Pac-12’s Media Day came and went last week with no new deal in place.
The urgency to secure a media rights deal stems from the fact that the Pac-12’s current contract and grant of rights are set to expire on June 30, 2024. If a deal is not struck before this date, the league could face legal ramifications and potentially cease to exist. Unlike other Power Five conferences, the Pac-12 is the only one not locked into a deal through at least 2031.
The quality of the deal presented by Kliavkoff will have significant implications for the conference. The Big 12 has openly expressed interest in several Pac-12 schools and is closely watching the situation. “All I keep saying is, you know, we’re just waiting to get a deal,” said Arizona president Robert Robbins, emphasizing the importance of a favorable deal for the Pac-12.
In contrast, the Big 12 recently renewed its contract with ESPN and Fox, securing an average annual payment of over $31 million per school. The Pac-12 has explored potential partnerships with providers ranging from Amazon to Apple TV+ and the CW. However, it remains unclear which providers will be involved when Kliavkoff finally presents the deal to the board.
The stakes are high for the Pac-12 as it seeks to secure a lucrative media rights deal that will ensure its financial stability and competitiveness in the ever-evolving landscape of college athletics. The outcome of these negotiations will have a significant impact on the future of the conference and its member institutions.