The Pac-10 has hit the mother lode.
The conference, which becomes the Pac-12 on July 1, is expected to announce Wednesday that it has signed a television contract with ESPN and Fox worth $3 billion over 12 years — the richest media package in the history of college sports.
Once the deal takes effect prior to the 2012 football season, each school will receive an average of $21 million per year — four times the amount generated from existing contracts with Fox and ESPN.
“They hit the ceiling with what they could have achieved,” said AJ Maestas of Navigate Marketing, which tracks college sports media and sponsorship deals. “If there was a report card, they’d get an A+.”
The timing couldn’t have been better for the conference.
Media rights contracts have skyrocketed in the past 12-18 months because networks are able to charge higher ad rates and subscriber fees for live sports programming.
Comcast just agreed to pay $200 million per year for the rights to the NHL, and Fox recently announced a $90 million annual deal to broadcast Big 12 football games on its cable channels.
In addition, the Southeastern, Atlantic Coast, Big Ten and Big 12 conferences are locked into long-term media deals. For networks wanting a piece of college football, it was the Pac-10 or bust.
“The combination of sports becoming more valuable and the competitive atmosphere put the Pac-10 at the pinnacle,” Maestas said. “And they have a pretty good idea of what they’re doing.
Games will be broadcast on Fox and ABC and numerous cable channels: FX, Fox Sports Net, ESPN, ESPN2 and ESPNU. That likely means a bevy of football games on Thursday and Friday nights.
The conference is expected to form its own TV network, providing yet another broadcast outlet. Tentatively scheduled for launch in Aug. 12, it would carry games not shown by Fox or ESPN or their affiliates.
The league will form its own digital channel along the lines of ESPN3, according to a recent New York Times report.
Sources said there are plans to broadcasts events on mobile platforms, as well.
Commissioner Larry Scott will announce the deal Wednesday in Phoenix, where the league is holding its spring meetings, and may provide details on the distribution plans under the new agreement with Fox and ESPN.
Fans in the Bay Area who subscribe to Comcast have been frustrated over the years by the paucity of Cal and Stanford men’s basketball games on basic cable.
For more on college sports, see Jon Wilner’s College Hotline at blogs.mercurynews.com/collegesports. Contact him at jwilner@mercurynews.com.
