Buffs’ Pac-12 TV deal worth $19 million

BOULDER – The University of Colorado could receive an estimated $20 million per year or more as part of a new Pacific-12 Conference television deal with Fox and ESPN, according to industry analysts.

While financial terms were not disclosed, the “landmark deal” will allow member universities to share equally in revenue from the TV stations for the first time ever, according to Larry Scott, the Pac-12 commissioner, who made his remarks in a press conference Wednesday in Phoenix.

CU’s athletic director Mike Bohn said the actual financial distribution agreements of the deal have not yet been worked out.

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“We recognize the landmark status that we’re proud to be a part of, but so many details are yet to be determined,” Bohn said. “The league for the first time in 80 years is participating in a revenue-sharing model, so that will be a significant piece of the long-term viability of the conference and its membership.”

Sports and entertainment industry analysts have pegged the worth of the 12-year deal at about $3 billion, or at least $225 million per year to be split among participating schools. By comparison, the Southeastern Conference TV deals with CBS and ESPN is worth $205 million per year.

The University of Colorado Buffs and the University of Utah Utes will become part of the sports conference in July.

At the same time, Scott said the new Pac-12 Media Enterprises company has been created, and will own the Pac-12 Network, the Pac-12 Digital Network and Pac-12 Properties. The new company will control and distribute Pac 12 games not licensed to ESPN and Fox Sports, he said.

The media rights package means Fox Sports will offer its first slate of over-the-air, regular season college football games, Randy Freer, president of Fox Sports Networks, said in the Phoenix press conference.