Everything is bigger in Texas. And the University of Texas is about get even bigger after agreeing with ESPN for a 24-hour television networking showcasing UT sports, academics and the culture in Austin.
The University of Texas signed the deal with ESPN Wednesday for 20-years, $300 million or $15 million a year. The rich continue to get richer.
The UT athletic department generated the most revenue in the nation, nearly a reported $143 million for 2009-10. Texas was very happy to get the deal done and also noted that at least five million a year will be used purely for academics. ESPN will help develop, launch and operate the network.
This is an unprecedented deal that surely will have a snowball affect for other universities. The whole idea started decades ago when NBC acquired the exclusive rights of Notre Dame football. Next the Big Ten Network. And now ESPNUT (well it hasn’t officially been named yet).
Launched on August 30, 2007, the Big Ten Network has been a fantastic idea that has benefited the network, Big Ten schools and the fans.
More money, more coverage, more tools to work with.
Each Big Ten school gets an equal share of revenue each year which amounts to roughly $12 million this year…and that number will continue to increase.
Indiana’s Fred Glass acknowledged in the hiring of new football head coach Kevin Wilson that IU was able to pay a higher, more competitive rate was because of the inflow of cash from the Big Ten Network.
And the Big Ten Network will continue to expand, adding more markets (like Nebraska), television services and corporate sponsors.
The negotiations between ESPN and UT began last summer when Texas threatened to leave the Big 12 Conference. Essentially Texas agreed to stay if they were allowed to have their own network.
Per the agreement, the exclusive network will broadcast at least one exclusive football game, eight men’s basketball games, women’s basketball coverage of games not televised elsewhere, and Olympic sports coverage. Plans call for 200 events a year.
The Olympic sports coverage is a big advantage and benefit for UT having their own network. Sure their football and basketball teams get plenty of coverage but what about the non-revenue sports. Soccer, golf and volleyball. This will allow many other UT sports and campus events to gain notoriety and coverage.
Notre Dame’s exclusive deal, the Big Ten Network, and now the Longhorn Network…the future is endless.
The cable enterprise is expected to debut by September 1st.