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College Sports Cash In: Media Deals Skyrocket
19 Dec
Summary
- Big 12 media rights deal nearly doubled to $380 million annually.
- College Football Playoff media rights will reach $1.3 billion annually by 2026.
- Private equity firms are investing in college sports programs.
College athletic programs are experiencing unprecedented financial growth, largely fueled by escalating media rights agreements for football and basketball. The Big 12 conference, for instance, recently finalized a six-year media rights extension that will provide an average of $380 million annually, nearly doubling its previous deal.
Looking ahead to 2026, the College Football Playoff is set to command an average of $1.3 billion per year through a new agreement with ESPN, more than double its current contract. Notre Dame's upcoming four-year deal with NBC will also see its annual earnings more than double to $50 million.
This influx of capital is attracting private equity interest. These investments could help fund the $2.78 billion class action settlement for athletes and the increasing revenue share schools now provide to current student-athletes. Projections estimate the NIL market alone will grow to $2.55 billion by 2026, indicating continued financial expansion in college sports.
