In the least, the ACC's bank account will be expanding in the near future. ESPN narrowly outbid FOX Sports for the league's football and basketball television contract, according to an online report, more than doubling the league's old contract.
According to the Triangle Business Journal, the league, which wrapped its weekly meetings without making a decision on a television agreement, will reach an agreement with ESPN, after a series of rounds of bidding drove up the asking price by more than $35 million a year.
However, no contract has yet been finalized.
The deal is expected to pay roughly $1.86 billion over 12 years, which amounts to $155 million per year, according to an industry source cited in the report. The yearly sum is more than twice the average amount of $67 million the league was receiving during its previous contract. However, it falls short of the $205 million the SEC receives from ESPN as part of its 15-year deal.
The league's current contract expires at the end of the 2011 season. The new contract will run through 2023.
-- Ray Holloman
Report: ESPN Wins ACC Television Contract
May 17, 2010 – 11:41 AM
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