SEC’s new financial windfall TV deal has other conferences on notice
From coast to coast, college administrators and television insiders did a double-take when they read the press release.
In Blacksburg, Jim Weaver, Tech’s Director of Athletics, read the staggering financial numbers, turned to associate AD Tom Gabbard and asked “Imagine what we could do with our facilities if we had this kind of revenue?”
The blockbuster story of the early football season wasn’t Alabama’s win over Clemson or anything else that’s happened on the field. The news that has everyone abuzz is the SEC’s new television deal with ESPN that will pay the conference and its member schools $2.25 billion (that’s billion, with a “B”) over the next 15 years. The deal comes on the heels of the league inking a 15-year contract with CBS worth $55 million.
To put this into perspective, each SEC team will earn between $13 million and $15 million per season from the league’s television deals, roughly tripling the SEC’s previous contract. In addition, each team is also allowed retain its own local multimedia rights and delayed television package.
hokiesports.com
9/2/08
Magnolia Tribune
