It has been 244 days since USC and UCLA announced their plans to enter the Big Ten and almost as many since the Pac-12 began the process of renegotiating its media rights.
As a result, our Pac-12 survival odds have changed for the first time in months, ticking down to five points.If the end of March arrives and the same state of uncertainty still exists, then survival will be favored over extinction by merely a field goal.We project the Pac-12’s valuation to fall within 10 percent of the Big 12’s agreement with ESPN and Fox, which will pay each school an average of $31.7 million annually starting in 2024-25.
Then the Big 12 renewed its agreement with ESPN and Fox instead taking its rights to the market — a smart play by commissioner Brett Yormark because of the security it provided with the conference’s longtime network partners.The midpoints of our October estimates were $37.5 million for the Pac-12 and $40 million for the Big 12. Put another way, we valued the former at 94 percent of the latter.
Yes, the Big 12 has replaced Texas and Oklahoma, while the Pac-12’s hasn’t filled the hole left by the Los Angeles schools.