And if the Sports Business Daily has it right, it may not pass the smell test.
According to SBD, ESPN has promised not to cut back on its $60 million a year contract, despite having two fewer teams in the league.
But it is the proposed Fox package that seems skewed. Right now Fox is paying $19.5 million a year for Big 12 cable rights. Supposedly they are willing to up the ante somewhere between $130-$140 million a year.
In exchange, Fox wants an 18-year commitment, and they want control over the "third tier" rights of the conference. That would mean Fox would take over radio, local media, third-tier TV rights, corporate sponsorships, and in-stadium and arena signage for each of the 10 teams. Currently IMG holds those rights for Texas, as well as Kansas in the Big 12 along with other teams such as Florida, Michigan and Nebraska.
Texas A&M has its local rights controlled by Learfield Sports, which also has Oklahoma as a client.
Since IMG is helping Texas form its Longhorn Network I assume that they would sign off on this, as that income would help make up for the loss of the third tier money. But it is hard to imagine a scenario where the other Big12-light programs could make up the difference.
An 18-year comitment? A jump from $19.5 million to $130 million a year? And a loss of local media rights? No wonder there were few details revealed at today's press conference on the 40 Acres.