We've been digging our snouts through the deep, deep trough of Baylor schadenfreude for awhile; time for a breather.
Don't fret, there'll be more where that came from!
Right now, let's school Dennis Dodd, CBS Sports editorial huckster, with some first grade arithmetic. Pull out your multiplication tables!
Here's the link to the story...but please, don't waste your time actually reading it:
"Big 12 could earn an additional $1 billion through expansion"
Time for a word problem, class!
If the league expands by four teams, provisions in its contracts with ESPN and Fox provide ($1 billion). If the expansion is by two teams, the increase would be $500 million.
The current media rights deal is worth $1.3 billion from ESPN and $1.2 billion from Fox, according to SportsBusiness Daily.
When the league signed the 2012 deal, there was conversation regarding language for reopening the contract in the event of expansion. The parties agreed the Big 12 would get equal shares for any new teams that were added.
Got that? Great. So, here's the total amount of the deals:
$1.3B + $1.2B = $2.5B
Per team, that's:
$2.5B / 10 = $250M
New schools will make the same amount as everyone else, so if four schools join they'll get at least $250M each, for a total of:
$250M x 4 = $1B
And if two schools join, that's:
$250M x 2 = $500M
Subtract that from the extra contract money, the remainder to be reaped as the windfall is:
$1B - $1B = $0
$500M - $500M = $0
So...adding either two or four teams will earn the current Big XII members ZERO net dollars.
Got that? Null, void, zip, zero, nada, naught, the great oblivion. New members get the same amount everyone else is currently getting. No one gets a single penny more.
Oh, I forgot this last bit:
The Big 12 is approximately $9 million per school behind the SEC in annual revenue. Added expansion would close that gap "by half," according to a source.
Hmm. Did that source forget to bring their multiplication tables? Or did Dennis Dodd?
Help me understand, y'all.